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Suite 700 838 W. Hastings Street Vancouver BC V6C 0A6 Mr. Arthur Halleran 250 996-4211 arth@trillionenergy.com Suite 700 838 W. Hastings Street Vancouver BC V6C 0A6 115250810 No No Yes No Non-accelerated Filer false International Financial Reporting Standards true false false Restatement of Previously Issued Form 20-F The Company has restated its consolidated financial statements for the year ended December 31, 2023 as a result of a foreign exchange loss on intercompany accounts that was previously recorded in net loss, and which should have been recorded in other comprehensive loss. IAS 21, The effects of changes in foreign exchange rates, requires that foreign exchange gains and losses on items that form part of an entity’s net investment in a foreign operation, should be recognized in other comprehensive income or loss in the Company’s consolidated financial statements. The restatement had no impact on the reported assets, liabilities, total shareholders’ equity, cash flows or comprehensive loss. In addition, the Company has included comparative periods in these consolidated financial statements that were previously labeled “Unaudited” or “Audited”, these labels have been removed as the columns are now covered by the auditors’ report attached to these consolidated financial statements. See note 27 of the restated consolidated financial statements for details of the balances and changes. The table below highlights the resulting restatements in this Form 20-F:  For the year ended December 31, 2023  As previously reported $   Restatement $   As restated $         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220000 262384 -100929 824278 926061 1026990 202712 1188445 926061 1026990 795451 105805 29980 212402 391021 351537 158698 89711 169396 765576 522519 236201 <p id="xdx_804_ecustom--DisclosureOfNatureOfBusinessExplanatory_zXTcyXvOu2m2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_823_z0dZ81TUTJQf">Organization</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trillion Energy International Inc. and its consolidated subsidiaries, (collectively referred to as the “Company”) is a Canadian based oil and gas exploration and production company. Effective January 2022, the corporate headquarters moved to Suite 700, 838 West Hastings Street, Vancouver, B.C., Canada from Turan Gunes Bulvari, Park Oran Ofis Plaza, 180-y, Daire:54, Kat:14, 06450, Oran, Cankaya, Anakara, Turkey. The Company also has a registered office in Canada and Bulgaria. The Company was incorporated in Delaware in 2015. The Company’s shares trade on the OTCQB under the symbol “TRLEF” and trade on the Canadian Securities Exchange (the “Exchange”) under the symbol “TCF”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 21, 2022, the Company redomiciled from Delaware to a British Columbia corporation by way of an amalgamation transaction with the Company’s British Columbian subsidiary, Trillion Energy Inc. (the “Repatriation Transaction”). Pursuant to the Repatriation Transaction, for every one common stock of Trillion Energy International Inc., the shareholders will receive one common stock of Trillion Energy Inc. The Company will continue to operate and report under the name of Trillion Energy International Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the Repatriation Transaction, the Company meets the definition of a foreign private issuer, as defined under Rule 3b-4 of the Securities Exchange Act of 1934, as amended.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 18, 2023, the Company consolidated its issued share capital on a ratio of five old common shares for every one new post-consolidated common share. All current and comparative references to the number of common shares, weighted average number of common shares, loss per share, stock options and warrants have been restated to give effect to this share consolidation (the “Share Consolidation”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. At December 31, 2023, the Company’s current liabilities exceeded its current assets by $<span id="xdx_904_ecustom--Workingcapital_iI_c20231231_zdfcOePgxLD9" title="Working capital">12,929,942</span> (2022 - $<span id="xdx_903_ecustom--Workingcapital_iI_c20221231_zaW40tuRHNib" title="Working capital">4,819,052</span>) and its accumulated deficit amounts to $<span id="xdx_90D_eifrs-full--RetainedEarnings_iNI_di_c20231231_ztbT2hpofe73" title="Retained earnings">44,880,846</span> (restated – Note 27) (2022 - $<span id="xdx_90C_eifrs-full--RetainedEarnings_iNI_di_c20221231_zaYB2Sch1ug4" title="Retained earnings">44,837,004</span>). In addition, for the year ended December 31, 2023, the Company used cash of $<span id="xdx_908_eifrs-full--CashFlowsFromUsedInOperatingActivities_di_c20230101__20231231_zp3AVqFRjlz1" title="Operating activities">1,526,577</span> (2022 – provided cash of $<span id="xdx_90D_eifrs-full--CashFlowsFromUsedInOperatingActivities_c20220101__20221231_zOarO1WAeTU8" title="Operating activities">7,031,965</span>) in operating activities. The Company’s continuation as a going concern is dependent upon its ability to complete financings sufficient to meet current and future obligations, the successful results from its business activities, and its ability to operate profitably and generate funds. Although the Company raised capital in current and previous reporting periods, additional funding will be required to continue current operations and further advance its existing oil and gas assets in the upcoming 12 months. These factors indicate the existence of material uncertainty which raises substantial doubt about the Company’s ability to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 12929942 4819052 -44880846 -44837004 -1526577 7031965 <p id="xdx_804_eifrs-full--DisclosureOfMaterialAccountingPolicyInformationExplanatory_z1yqPiTVT9V6" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82D_zuR1r0y8nkqc">Material Accounting Policies</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eifrs-full--DescriptionOfBasisOfPreparationOfSummarisedFinancialInformationOfAssociate_zJrbPc44nach" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86F_zOVXHZHx9j4k">Basis of Presentation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The audited consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) and Interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”), effective as at January 1, 2023. The consolidated financial statements are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries Park Place Energy Corp. (“PPE Corp.”), Park Place Energy Bermuda (“PPE Bermuda”), BG Exploration EOOD (“BG Exploration”), and Park Place Energy Turkey (“PPE Turkey”). The Company’s oil and gas operations are conducted jointly with its joint venture partner (Note 6). The joint arrangement meets the definition of a joint operation under IFRS 11, “Joint Arrangements” (“IFRS 11”); therefore, the Company’s share of the assets, liabilities, revenues and expenses are recorded in the consolidated financial statements. All intercompany balances and transactions are eliminated on consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued) </b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The functional currency of BG Exploration is the Bulgarian Lev. The functional currency of the Company’s Turkish operations is the Turkish Lira (“₺”). The functional currency of the Company’s Bermuda subsidiary is the United States dollar (“USD”), and the function currency of PPE Corp is the USD. Prior to January 1, 2022, the functional currency of Trillion Energy International Inc. was USD. The Company redomiciled from United States to Canada and became a Canadian Company in January 2022, resulting in the parent’s expenditures being denominated primarily in Canadian dollar (“CAD”) and the Company being funded primarily from issuance of equity instruments which proceeds are in CAD. As a result, the Company determined that the functional currency of the parent was changed to CAD effective January 1, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has accounted for the change in functional currency prospectively with no impact of this change on prior period comparative information. The Company has made an accounting policy choice to reassess the classification of financial instruments as liabilities or equity or vice versa as applicable when the functional currency of the Company or its subsidiaries changes. The policy will be applied consistently in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result, certain of the Company’s CAD denominated warrants with a carrying value of $<span id="xdx_900_ecustom--WarrantsCarryingValue_iI_uCAD_c20220131_z9LxjMYXQdsj" title="Warrants carrying value">472,899</span>, which previously were classified as a derivative liability as their exercise prices were denominated in a currency other the Company’s previous functional currency, were reclassified to equity effective January 1, 2022. Further, effective January 1, 2022, certain of the Company’s USD denominated warrants with a carrying value of $<span id="xdx_903_ecustom--WarrantsCarryingValue_iI_c20220131_zrJXW5lB95Ta" title="Warrants carrying value">163,162</span>, which previously were classified as equity instruments, were reclassified to derivative liability as their exercise prices are denominated in a currency other than the Company’s new functional currency.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A portion of the Company’s exploration and development activities are conducted jointly with others. The joint interests are accounted for on a proportionate consolidation basis and as a result the financial statements reflect only the Company’s proportionate share of the assets, liabilities, revenues, expenses and cash flows from these activities.</span></p> <p id="xdx_89F_ecustom--DisclosureOfExplorationAndDevelopmentActivitiesExplanatory_zF6UDCtMzgSf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zdR1OdLlX433" style="display: none">Schedule of Exploration and Development Activities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 26%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of the joint</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">arrangement</span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 22%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nature of the relationship</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">with the joint arrangement</span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 22%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal place of operation</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of joint arrangement</span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 24%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proportion of</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">participating share</span></p></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">South Akcakoca Sub-Basin (“SASB”)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operator</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Turkey</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eifrs-full--ProportionOfOwnershipInterestInJointOperation_pid_dp_uPure_c20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_zgIeZDJuv9zb" title="Proportion of participating share">49</span>%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cendere</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Participant</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Turkey</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eifrs-full--ProportionOfOwnershipInterestInJointOperation_pid_dp_uPure_c20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--CendereMember_zWVYF94PpuU5" title="Proportion of participating share">19.6</span>%</span></td></tr> </table> <p id="xdx_8AC_zIiL49ZlDeO8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These restated consolidated financial statements were approved and authorized for issuance by the Board of Directors on December 4, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Basis of Measurement</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These consolidated financial statements have been prepared on a historical cost basis except for certain derivative liabilities, which are measured at fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Hyperinflation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to various qualitative factors and developments with respect to the economic environment in Turkey, including but not limited to, the acceleration of multiple local inflation indices, the three-year cumulative inflation rate of the local Turkish wholesale price index exceeding 100% at the end of February 2022 and the significant devaluation of the Turkish Lira, Turkey has been designated a hyper-inflationary economy as of April 1, 2022 for accounting purposes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accordingly, IAS 29, Financial Reporting in Hyper-Inflationary Economies was adopted by the Company in its consolidated financial statements and applied to these consolidated financial statements in relation to PPE Turkey. The consolidated financial statements are based on the historical cost approach in IAS 29.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The application of hyperinflation accounting requires restatement of PPE Turkey’s non-monetary assets and liabilities, equity and comprehensive income (loss) items from the original transaction date when they were first recognized into the current purchasing power which reflects a general price index current at the end of the reporting period. To measure the impact of inflation on its financial statements and results, the Company has elected to use the consumer price index (“CPI”) as published by the Turkish Statistical Institute “TURKSTAT”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IAS 29 also requires the restatement of comparative periods for the effects of hyperinflation unless the comparatives were previously presented in a different presentation currency of a non-hyperinflationary economy. The consolidated financial statements of the Company are presented in US dollars, a stable currency, and as a result the comparative amounts do not require restatement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 1, 2022, the Company recognized an adjustment of $<span id="xdx_908_ecustom--ImpactOfHyperinflationAccumulatedDepreciation_c20220401__20220401_zRKYeRiXpgah" title="Impact of hyperinflation accumulated depreciation">473,907</span> for the impact of hyperinflation within accumulated other comprehensive loss related to the non-monetary assets held by PPE Turkey, which have been restated from the historic date when they were first recognized to the beginning of the reporting period (the “Opening Hyperinflation Adjustment”). On initial adoption of IAS 29, there is an accounting policy choice to recognize the Opening Hyperinflation Adjustment directly to opening equity or to other comprehensive income and the Company has elected to recognize this amount directly to opening equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The value of the CPI at December 31, 2023, was <span id="xdx_902_ecustom--ConsumerPriceIndex_iI_c20231231_zSp5B8KO5OIe" title="Consumer price index">1,859</span> (2022 – <span id="xdx_90A_ecustom--ConsumerPriceIndex_iI_c20221231_zVooFsDbGax4" title="Consumer price index">1,128</span>) and the movement in the CPI for the year ended December 31, 2023 was <span id="xdx_906_ecustom--IncreaseIndexMovements_c20230101__20231231_zmCHzArbwwpe" title="Increase index movements">731</span> (December 31, 2022 – <span id="xdx_90C_ecustom--IncreaseIndexMovements_c20220101__20221231_zz2qxvwVlh9c" title="Increase index movements">442</span>), an increase of approximately <span id="xdx_907_ecustom--IncreaseIndexMovementsPercentage_pid_dp_uPure_c20230101__20231231_zwNMPtlZtmme" title="Increase index movements percentage">65</span>% (2022 – <span id="xdx_908_ecustom--IncreaseIndexMovementsPercentage_pid_dp_uPure_c20220101__20221231_zXSnXG32Rm7l" title="Increase index movements percentage">64</span>%). As a result, the Company recognized a net monetary gain of $<span id="xdx_90F_eifrs-full--GainsLossesOnNetMonetaryPosition_c20230101__20231231_z02qd0rglqWf" title="Monetary position">18,984,099</span> for the year ended December 31, 2023 (2022 - $<span id="xdx_900_eifrs-full--GainsLossesOnNetMonetaryPosition_c20220101__20221231_zKFWEPIDPsSa" title="Monetary position">1,826,495</span>) to restate transactions into a measuring unit current as of each year end.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_ecustom--DescriptionOfAccountingPolicyForUseOfEstimatesAndJudgementsExplanatory_z73WnlZO3k2i" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_869_zPRpJnBoDtDl">Use of Estimates and Judgments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the process of applying the Company’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Functional Currency</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The functional currency for the Company and each of its subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of the functional currency involves certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions which determined the primary economic environment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Determination of Cash Generating Units (“CGUs”)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A CGU is the lowest grouping of integrated assets that generate identifiable cash inflows that are largely independent of the cash inflows of other assets or groups of assets. The allocation of assets into CGUs requires significant judgment and interpretations with respect to the integration between assets, the existence of active markets, similar exposure to market risks, shared infrastructure, and the way in which management monitors the operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Going concern</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The assessment of the Company’s ability to continue as a going concern and to raise sufficient funds to pay its ongoing operating expenditures and to meet its liabilities for the ensuing year, involves significant judgment based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Asset Retirement Obligation</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Management applies judgment in assessing the existence and extent as well as the expected method of reclamation of the Company’s decommissioning and restoration obligations at the end of each reporting period. Management also uses judgment to determine whether the nature of the activities performed is related to decommissioning and restoration activities or normal operating activities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the process of applying the Company’s accounting policies, management has made the following estimates, which have the most significant effect on the amounts recognized in the consolidated financial statements:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Convertible debt</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company completed a convertible debenture financing. The convertible debentures include certain conversion features and associated warrants which were valued using the option pricing model and required significant assumptions to be made by management to value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Oil and Gas Reserves</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s estimate of oil and gas reserves is considered in the measurement of depletion, depreciation, impairment, and decommissioning and restoration obligations. The estimation of reserves is an inherently complex process and involves the exercise of professional judgment. All reserves are evaluated annually by independent qualified reserves evaluators. Oil and gas reserves estimates are based on a range of geological, technical and economic factors, including projected future rates of production, projected future commodity prices, engineering data, and the timing and amount of future expenditures, all of which are subject to uncertainty. Estimates reflect market and regulatory conditions existing at the evaluation date, which could differ significantly from other points in time throughout the period, or future periods. Changes in market and regulatory conditions and assumptions, as well as climate change, and the evolving worldwide demand for energy and global advancement of alternative sources of energy that are not sourced from fossil fuels can materially impact the estimation of net reserves.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Allowance for doubtful accounts</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimates are inherent in the on-going assessment of the recoverability of amounts receivable. The Company maintains an allowance for doubtful accounts to reflect the expected credit losses. Uncertainty relates to the actual collectability of customer balances that can vary from the Company’s estimation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Asset Retirement Obligation</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Actual costs are uncertain, and estimates may vary as a result of changes to relevant laws and regulations related to the use of certain technologies, the emergence of new technology, operating experience, prices and closure plans. The estimated timing of future decommissioning and restoration may change due to certain factors, including reserves life. Changes to estimates related to future expected costs, discount rates, inflation assumptions, and timing may have a material impact on the amounts presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Estimated useful lives and depreciation of equipment </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation of equipment is dependent upon estimates of useful lives which are determined through the exercise of judgment. Changes to the estimated useful life of equipment could result in differences in their carrying amounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leases – Estimating the incremental borrowing rate</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company cannot readily determine the interest rate implicit in leases where it is the lessee. As such, it uses its incremental borrowing rate (“IBR”) to measure lease liabilities. The IBR is the rate of interest that the Company would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of comparable value to the right-of-use asset in a similar economic environment. IBR therefore reflects what the Company “would have to pay”, which requires estimation when no observable rates are available or where the applicable rates need to be adjusted to reflect the terms and conditions of the lease. The Company estimates the IBR using observable inputs (such as market interest rates) when available and makes certain entity-specific estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leases – Estimating the lease term </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company includes renewal options in the term of the lease when management deems that it is reasonably certain that the option will be exercised.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Impairment of Non-current Assets</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management applies judgment in assessing the existence of impairment indicators based on various internal and external factors. The recoverable amount of assets is determined based on the higher of fair value less costs of disposal or value-in-use calculations. The key estimates the Company applies in determining the recoverable amount normally include estimated future commodity prices, discount rates, expected production volumes, future operating and development costs, income taxes, and operating margins. In determining the recoverable amount, management may also be required to make judgments regarding the likelihood of occurrence of a future event. Changes to these estimates and judgments will affect the recoverable amounts of assets and may then require a material adjustment to their related carrying value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stock-based Compensation </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cost of equity-settled stock-based transactions (options, warrants, and equity-settled RSUs) with directors, officers and employees are measured by reference to the fair value of the equity instruments. Estimating fair value for equity-settled stock-based payment transactions requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the grant. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the stock option. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash-settled RSUs are accounted for as liability instruments and are measured at fair value based on the market value of the Company’s common shares at each reporting period. The fair value is recognized as stock-based compensation over the vesting period. Fluctuations in the fair values are recognized as stock-based compensation over the vesting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Fair Value of Derivative Liability</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s warrants and conversion features with exercise prices denominated in a currency other the Company’s functional currency are recognized as derivatives measured at fair value through the consolidated statements of income (loss) and comprehensive income (loss). Estimating fair value for derivative liability requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the issuance. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the derivatives. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Deferred Tax </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Judgments are made by management at the end of the reporting period to determine the probability that deferred tax assets will be realized from future taxable earnings. Assessing the recoverability of deferred tax assets requires the Company to make judgments related to the expectations of future cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognized in consolidated statements of income (loss) and comprehensive income (loss) in the period in which the change occurs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_zF6hppfCpeSb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86F_zNUknsDyRI74">Cash and Cash Equivalents</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eifrs-full--DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory_z5jtDMBnFfF9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_zb8gXT3Ql10j">Amounts Receivable</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts receivable consist primarily of oil and gas receivables. The Company has classified these as current assets in the consolidated statements of financial position because the Company expects repayment or recovery within the next 12 months. The Company evaluates these accounts receivable for collectability and, when necessary, records allowance for doubtful accounts. The Company deems all accounts receivable to be collectable and has not recorded any expected credit losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eifrs-full--DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_zdZkXsYbHeob" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_z3ybvkIT7Rhl">Property and Equipment</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful life of the asset. <span id="xdx_905_eifrs-full--DepreciationMethodPropertyPlantAndEquipment_c20230101__20231231_zy26BuvtprZ" title="Property and equipment, depreciation useful lives description">The estimate useful lives are as follows: Motor vehicles – <span id="xdx_903_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20230101__20231231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--MotorVehiclesMember_z3JSFiLopTV4" title="Property and equipment, depreciation useful lives">3</span> years; furniture – <span id="xdx_908_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20230101__20231231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember__srt--RangeAxis__ifrs-full--BottomOfRangeMember_zmjpPhuWONYb" title="Property and equipment, depreciation useful lives">3</span> to <span id="xdx_906_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20230101__20231231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember__srt--RangeAxis__ifrs-full--TopOfRangeMember_zNMZBxoQko8k" title="Property and equipment, depreciation useful lives">5</span> years; leasehold improvements – over the term of the lease and other equipment - <span id="xdx_90F_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20230101__20231231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--OtherPropertyPlantAndEquipmentMember_zFT3uYvtBT73" title="Property and equipment, depreciation useful lives">3</span> years.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyForRecognitionOfRevenue_zeB9HRxM4Vw1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86A_zJwf5G4dZKh">Revenue Recognition</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Revenue from Contracts with Customers</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue when it satisfies its performance obligation(s) by transferring control over a product to a customer. Revenue is measured based on the consideration the Company expects to receive in exchange for those products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Performance Obligations and Significant Judgments</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company sells oil and natural gas products in Turkey. The Company enters into contracts that generally include one type of distinct product in variable quantities and priced based on a specific index related to the type of product.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The oil and natural gas are typically sold in an unprocessed state to processors and other third parties for processing and sale to customers. The Company recognizes revenue at a point in time when control of the oil is transferred. For oil sales, control is typically transferred to the customer upon receipt at the wellhead or a contractually agreed upon delivery point. Under the Company’s natural gas contracts with processors, control transfers upon delivery at the wellhead or the inlet of the processing entity’s system. For the Company’s other natural gas contracts, control transfers upon delivery at the inlet or to a contractually agreed upon delivery point. In the cases where the Company sells to a processor, the Company has determined that the Company is the principal in the arrangement and the processors are the Company’s customers. The Company recognizes the revenue in these contracts based on the net proceeds received from the processor.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the Company’s product sales that have a contract term greater than one year, the Company uses the practical expedient in IFRS 15 Paragraph 121(a) which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to an unsatisfied performance obligation. Under these sales contracts, each unit of product represents a separate performance obligation; therefore, future volumes are unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required. The Company has no unsatisfied performance obligations at the end of each reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not believe that significant judgments are required with respect to the determination of the transaction price, including any variable consideration identified. There is a low level of uncertainty due to the precision of measurement and use of index-based pricing with predictable differentials. Additionally, any variable consideration identified is not constrained.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eifrs-full--DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures_zQCjljQuyfuj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_866_zIVJ5thtGoDe">Evaluation and Exploration Assets</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-license exploration costs are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The costs to acquire non-producing oil and gas properties or licenses to explore, drill exploratory wells and the costs to evaluate the commercial potential of underlying resources, including related borrowing costs, are initially capitalized as exploration and evaluation assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets are subject to technical, commercial and management review to confirm the continued intent to develop and extract the underlying resources. If an area or exploration well is no longer considered commercially viable, the related capitalized costs are charged to exploration expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets are not subject to depreciation, depletion, and amortization. When management determines with reasonable certainty that an exploration and evaluation asset will be developed, as evidenced by the classification of proved or probable reserves and the appropriate internal and external approvals, the asset is transferred to oil and gas properties. The Company records geological and geophysical expenses to the consolidated statements of income (loss) and comprehensive income (loss) as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eifrs-full--DescriptionOfAccountingPolicyForOilAndGasAssetsExplanatory_zm7CuxHhtqC3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86D_zFDUtrOe7XFb">Oil and Gas Properties</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oil and gas properties (“O&amp;G”) include development and productions costs, less accumulated depletion and depreciation and accumulated impairment loss. O&amp;G are grouped into CGUs for impairment testing. The Company has grouped its O&amp;G into two CGUs: the Cendere Oil Field and SASB Gas Field.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When significant parts of an item of O&amp;G have different useful lives, they are accounted for as separate items (major components). Costs incurred subsequent to the determination of technical feasibility and commercial viability and the costs of replacing parts of O&amp;G are capitalized only when they increase the future economic benefits embodied in the specific asset to which they relate. All other expenditures are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such capitalized items generally represent costs incurred in developing proved and/or probable reserves and bringing on or enhancing production from such reserves and are accumulated on a field or geotechnical area basis. The carrying amount of any replaced or sold component is derecognized. The costs of the day-to-day servicing of oil and gas properties are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oil and Gas Properties (continued)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The net carrying value of O&amp;G is depleted using the unit-of-production method by reference to the ratio of production in the year to the related proved reserves, considering estimated future development costs necessary to bring those reserves into production. The estimated future development costs is added to the carrying value of O&amp;G to calculate depletion. These estimates are reviewed by independent reservoir engineers at least annually.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_z6dYe2a0CURa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_zLQM2dACe5ee">Impairment of Non-financial Assets</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets, O&amp;G, and property and equipment are reviewed when events or changes in circumstances indicate the assets may not be recoverable. Exploration and evaluation assets are also tested for impairment immediately prior to being transferred to O&amp;G. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. Impairment exists when the carrying value of an asset exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In assessing value in use, the estimated future cash flows are discounted to their present value using a pretax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the consolidated statements of income (loss) and comprehensive income (loss). For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the CGU to which the asset belongs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These calculations are based on available data, other observable inputs, and projections of cash flows, all of which are subject to estimates and assumptions. Recoverable amounts are also sensitive to assumptions about the future usefulness of in-process development and the related marketing rights.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eifrs-full--DescriptionOfAccountingPolicyForProvisionsExplanatory_z89SMuqxRKgi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_869_z5K0KkodPmm3">Provisions</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions are recognized by the Company when it has a legal or constructive obligation as a result of past events, it is probable that an outflow of economic resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions are recognized for the asset retirement obligation associated with the Company’s exploration and evaluation assets and O&amp;G. Provisions for the asset retirement obligation are measured at the present value of management’s best estimate of the future cash flows required to settle the present obligation, using the risk-free interest rate. The value of the obligation is added to the carrying amount of the associated asset and amortized over the useful life of the asset. The provision is accreted over time with actual expenditures charged against the accumulated obligation. Changes in the future cash flow estimates resulting from revisions to the estimated timing or amount of undiscounted cash flows are recognized as a change in the asset retirement obligation and related assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eifrs-full--DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_zyFzoZkJDt9a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_866_z9K9d7oUxOO3">Financial Instruments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Classification </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies its financial instruments into one of the following categories: fair value through profit or loss (“FVTPL”), fair value through other comprehensive income (“FVOCI”), or at amortized cost. This determination is made at initial recognition. All financial instruments are initially recognized at fair value on the consolidated statements of financial position, net of any transaction costs except for financial instruments classified as FVTPL, where transaction costs are expensed as incurred. Subsequent measurement of financial instruments is based on their classification. The Company classifies its derivative liability and cash and cash equivalents as FVTPL, amounts receivable and notes and amounts receivable for equity issued as financial assets at amortized cost, and accounts payable and accrued liabilities, loans payable, and convertible debt as financial liabilities at amortized cost. Embedded derivatives in other financial instruments or other host contracts are recorded as separate derivatives when their risks and characteristics are not closely related to those of the host contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Measurement</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets and liabilities at amortized cost </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost sing the effective interest rate (“EIR”), less any impairment. Amortized cost is calculated by taking into account any discount or premium on acquisition and any fees or costs that are an integral part of the EIR. The EIR amortization is included in finance income in the consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets and liabilities at FVTPL</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of income (loss) and comprehensive income (loss). Realized and unrealized gains and losses arising from subsequent changes in the fair value of the financial assets and liabilities held at FVTPL are included in the consolidated statements of income (loss) and comprehensive income (loss) in the period in which they arise.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Debt investments at FVTOCI</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These assets are subsequently measured at fair value. Interest income calculated using the EIR method, foreign exchange gains and losses and impairment are recognized in the consolidated statements of income (loss) and comprehensive income (loss). Other net gains and losses are recognized in other comprehensive income (“OCI”). On derecognition, net gains and losses accumulated in OCI are reclassified to the consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity investments at FVTOCI</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These assets are subsequently measured at fair value. Dividends are recognized as income in the consolidated statements of income (loss) and comprehensive income (loss) unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Impairment of Financial Assets at Amortized Cost</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes an allowance for doubtful accounts on financial assets that are measured at amortized cost. At each reporting date, the Company measures the allowance for doubtful accounts for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date the credit risk has not increased significantly since initial recognition, the Company measures the allowance for doubtful accounts for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the consolidated statements of income (loss) and comprehensive income (loss), as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the allowance for doubtful accounts at the reporting date to the amount that is required to be recognized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Fair value</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value estimates are made at the consolidated statements of financial position date based on relevant market information and other information about financial instruments. Financial assets and financial liabilities measured at fair value in the consolidated statements of financial position are grouped into a fair value evaluation hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This hierarchy groups financial assets and financial liabilities into three levels according to the significance of the inputs used in the fair value evaluation of the financial assets and financial liabilities. The fair value levels of the hierarchy are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 – Quoted prices (unadjusted) in active markets for identical assets and liabilities at the financial reporting date;</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 – Inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 – Inputs for the assets or liabilities that are not based on observable market data.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The level within which the financial asset or financial liability is classified is determined based on the lowest level of significant input to the fair value measurement. The Company’s cash and cash equivalents is categorized as Level 1 and its derivative liability is categorized as Level 3.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Derecognition </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derecognizes financial assets only when the contractual rights to cash flow from the financial assets expire, or when it transfers the financial assets and substantially all the associated risks and rewards of ownership to another entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial liabilities</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derecognizes financial liability when its contractual obligations are discharged or cancelled or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and / or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is initially recognized at fair value. Gains and losses on derecognition are recognized in consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eifrs-full--DescriptionOfAccountingPolicyForIncomeTaxExplanatory_zc7LRYmZWQTg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86E_zugFFWWK9gn1">Income Taxes</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Current Tax</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the countries where the Company operates and generates taxable income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Deferred Tax</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax is recognized on temporary differences at the reporting date arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax relating to items recognized directly in OCI or equity is recognized in OCI or equity and not in profit or loss</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying amount of deferred tax assets is reviewed at the end of each reporting period and recognized only to the extent that it is probable that future taxable income will be available to allow all or part of the temporary differences to be utilized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted and are expected to apply by the end of the reporting period. Deferred tax assets and deferred income tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_zHn4YdIcULQh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_869_zzSGItSVQnJ1">Stock-Based Compensation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the Company’s equity-based compensation plans, stock-based awards may be granted to executives, employees, and non-employee directors. The Company grants restricted share units (“RSUs”) and stock options to directors, officers, employees, and consultants. An individual is classified as an employee when the individual is an employee for legal or tax purposes or provides services like those performed by an employee.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The costs of equity-settled transactions with employees are measured by reference to the fair value at the date on which they are granted, using the Black Scholes valuation model. The costs of equity-settled transactions are recognized, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled, ending on the date on which the relevant employees become fully entitled to the award (the “vesting date”). For cash settled stock-based compensation, the expense is determined based on the fair value of the liability at the end of the reporting period until the award is settled.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In situations where equity instruments are issued to non-employees and some or all of the goods or services received by the Company as consideration cannot be specifically identified, they are measured at fair value of the stock-based payment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-Based Compensation (continued)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cumulative expense is recognized for equity-settled transactions at each reporting date until the vesting date reflects the Company’s best estimate of the number of equity instruments that will ultimately vest. The profit or loss charge or credit for a period represents the movement in cumulative expense recognized as at the beginning and end of that period, and the corresponding amount is represented in the warrant and option reserve. At the end of each reporting period, the Company re-assesses its estimates of the number of awards that are expected to vest and recognizes the impact of the revisions in the consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No expense is recognized for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vesting irrespective of whether or not the market condition is satisfied provided that all other performance and/or service conditions are satisfied.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where the terms of an equity settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original terms of the award are met. An additional expense or its reduction is recognized for any modification which increases or decreases the total fair value of the stock-based payment arrangement or is otherwise beneficial to the employee as measured at the date of modification. Where an award is cancelled by the Company or the counterparty, any remaining element of the fair value of the award is expensed immediately or reversed through profit or loss, depending on the type of cancellation. The dilutive effect of outstanding options is reflected as additional dilution in the computation of earnings per share whereas anti-dilutive options are ignored.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consideration paid to the Company on exercise of stock-based awards is credited to share capital and the associated amount in warrant and option reserve is reclassified to share capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_ecustom--DescriptionOfUnitOfferingsPolicyExplanatory_zSraO1t1nCj8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86B_zaCqs3O75DP4">Unit Offerings</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common shares are classified as equity. Proceeds from unit placements are allocated between shares and warrants issued using the residual method. The residual method first allocates fair value to the component with the best evidence of fair value and then the residual value, if any, to the less easily measurable component. If the attached warrants do not meet the definition of a derivative liability, the fair value of the common shares, measured on date of issue, are determined to be the component with the best evidence of fair value. The balance, if any, is allocated to the attached warrants. If the attached warrants meet the definition of a derivative liability, the proceeds are first allocated to the fair value of the warrants and then the residual value, if any, is allocated to the common shares. Costs directly identifiable with share capital financings are charged against share capital. If the subscription is not funded upon issuance, the Company records a receivable as a contra account to shareholders’ equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eifrs-full--DescriptionOfAccountingPolicyForEarningsPerShareExplanatory_zAt1dZFEAgsb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86F_z0dVzH3iCOQ">Loss per Share</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings per share are calculated by dividing the net earnings for the period by the weighted average number of common shares outstanding during the period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diluted earnings per share is calculated by adjusting the weighted average number of common shares outstanding for dilutive common shares. The number of shares included is computed using the treasury stock method. As certain instruments can be exchanged for common shares of the Company, they are considered potentially dilutive and are included in the calculation of the Company’s diluted net earnings per share if they have a dilutive impact in the period. The impact of potentially dilutive securities is not considered in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eifrs-full--DescriptionOfAccountingPolicyForLeasesExplanatory_zzJA3GsNFohg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_869_zWPgtMzIrdZj">Leases</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At inception of a contract, the Company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset on the site on which it is located, less any lease incentives received. The assets are depreciated to the earlier of the end of the useful life of the right-of-use asset or the lease term. Judgment is applied to determine the lease term where a renewal option exists. Right-of-use assets are depreciated using the straight-line method as this most closely reflects the expected pattern of consumption of the future economic benefits. In addition, the right-of-use assets may be reduced by impairment losses or adjusted for certain remeasurements of the lease liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of twelve months or less. The lease payments are recognized as an expense when incurred over the lease term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. Lease payments include fixed payments, and variable payments that are based on an index or rate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash payments for the principal portion of the lease liability are presented within the financing activities section and the interest portion of the lease liability is presented within the operating activities section of the consolidated statements of cash flows. Short-term lease payments and variable lease payments not included in the measurement of the lease liability are presented within the operating activities section of the consolidated statements of cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eifrs-full--DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_zw93dlB24097" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_865_zFHANC6wBu9i">Foreign Currency Translation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Functional currencies of the Company’s individual entities are the currency of the primary economic environment in which the entity operates. Transactions in foreign currencies are translated to the appropriate functional currency at foreign exchange rates that approximate those on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated to the appropriate functional currency at foreign exchange rates as at the date of the statement of financial position. Foreign exchange differences arising on translation are recognized in net earnings. Non-monetary assets that are measured in a foreign currency at historical cost are translated using the exchange rate at the date of the transaction.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In preparing the Company’s consolidated financial statements, the financial statements of each entity are translated into USD, the presentation currency of the Company. The assets and liabilities of foreign operations are translated into USD at exchange rates as at the date of the statement of financial position. Revenues and expenses of foreign operations, whose functional currency is not the currency of a hyperinflationary economy, are translated into USD using average foreign exchange rates for the period. The financial statements (i.e. assets, liabilities, revenues and expenses) of foreign operations whose functional currency is the currency of a hyperinflationary economy, is first adjusted in accordance with the Company’s hyperinflation accounting policy, and then translated to USD at exchange rates as at the date of the statement of financial position. Foreign exchange differences resulting from translation from functional currency to presentation currency are recognized in other comprehensive income or loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_ecustom--DescriptionOfAccountingPolicyConvertibleDebtExplanatory_zB6C4Hq4Za4b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_863_zU7gJLnUEsO9">Convertible Debt</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of the compound financial instrument (convertible debt) issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement and the definitions of a financial liability and an equity instrument. The conversion option that will be settled by the exchange of a fixed amount in cash for a fixed number of equity instruments of the Company is classified as an equity instrument. At the issue date, the liability component is recognized at fair value, which is estimated using the interest rate on the market for similar nonconvertible instruments. Subsequently, the liability component is measured at amortized cost using the EIR until it is extinguished on conversion or maturity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The value of the conversion option classified as equity is determined at the issue date, by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This amount is recognized in equity, net of tax effects, and is not revised subsequently. When the conversion option is exercised, the equity component of the convertible notes will be transferred to share capital. No profit or gain is recognized to the conversion or expiration of the conversion option.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_ecustom--DescriptionOfAccountingPolicyAssetsHeldForSaleExplanatory_zfiRKhGZMex9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_zHaTfIgAIygl">Assets Held For Sale</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current assets are classified as held for sale if their carrying amounts will be recovered through a sale transaction rather than through continuing use. This condition is met when the sale is highly probable, the asset is available for immediate sale in its present condition and the sale is expected to be completed within one year from the date of classification.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current assets held for sale are presented separately in current assets within the consolidated statements of financial position. Assets held for sale are measured at the lower of carrying amount and fair value less cost to sell, and are not depreciated, depleted or amortized. An impairment loss is recognized for any initial or subsequent write-down of the assets held for sale to fair value less costs to sell. The comparative period consolidated statement of financial position is not restated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eifrs-full--DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations_zr3JlsE6Jghk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(t)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_zFBVeOzob4n6">New IFRS pronouncements</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain pronouncements were issued by the IASB or the IFRIC that are mandatory for accounting periods commencing on or after January 1, 2024.Many are not applicable or do not have a significant impact to the Company and have been excluded.The following have not yet been adopted and are being evaluated to determine their impact on the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IAS 1 –Presentation of Financial Statements (“IAS 1”) was amended in January 2020 to provide a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date. The amendments clarify that the classification of liabilities as current or noncurrent is based solely on a company’s right to defer settlement at the reporting date. The right needs to be unconditional and must have substance. The amendments also clarify that the transfer of a company’s own equity instruments is regarded as settlement of a liability, unless it results from the exercise of a conversion option meeting the definition of an equity instrument. The amendments are effective for annual periods beginning on January 1, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_ecustom--DisclosureOfAccountingPolicyForFirstTimeAdoptionExplanatory_zp9gz38RWTk3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(u)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_zrBDZvsEQVl1">First-time Adoption of IFRS</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements for the year ended December 31, 2022, were the first set of financial statements that the Company prepared in accordance with IFRS. The Company previously prepared its consolidated financial statements, up to and including December 31, 2021, in accordance with accounting principles generally accepted in the United States (“US GAAP”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accordingly, the Company has prepared consolidated financial statements that comply with IFRS applicable for the year ended December 31, 2022, together with the comparative period data for the year ended December 31, 2021. In preparing the consolidated financial statements for the year ended December 31, 2022, the Company’s opening consolidated statement of financial position was prepared as at January 1, 2021, the Company’s date of transition to IFRS. This note explains the principal adjustments made by the Company in restating its US GAAP consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Exemptions applied</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IFRS 1 allows first-time adopters certain exemptions from the retrospective application of certain requirements under IFRS. The Company has applied the following exemptions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IFRS 3 Business Combinations has not been applied to either acquisitions of subsidiaries that are considered businesses under IFRS, or acquisitions of interests in associates and joint ventures that occurred before January 1, 2021. The use of this exemption means that the US GAAP carrying amounts of assets and liabilities, that are required to be recognized under IFRS, are their deemed cost at the date of the acquisition. After the date of the acquisition, measurement is in accordance with IFRS. Assets and liabilities that do not qualify for recognition under IFRS are excluded from the opening IFRS statement of financial position. The Company did not recognize any assets or liabilities that were not recognized under US GAAP or exclude any previously recognized amounts as a result of IFRS recognition requirements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has not restated contracts that were completed before January 1, 2021, under IFRS 15 “Revenue from Contracts with Customers”. A completed contract is a contract for which the Company has transferred all the goods and services identified in accordance with US GAAP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company assessed all contracts existing at January 1, 2021 to determine whether a contract contains a lease based upon the conditions in place as at January 1, 2021 in accordance with IFRS 16 “Leases”. Lease liabilities were measured at the present value of the remaining lease payments, discounted using the Company’s incremental borrowing rate at January 1, 2021. Right-of-use assets were measured at the amount equal to the lease liabilities, adjusted by the amount of any prepaid or accrued lease payments relating to that lease recognized in the statement of financial position immediately before January 1, 2021. The lease payments associated with leases for which the lease term ends within 12 months of the date of transition to IFRS and leases for which the underlying asset is of low value have been recognized as an expense on either a straight-line basis over the lease term or another systematic basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The transition to IFRS 16 did not result in any material impact on the Company’s financial position as at December 31, 2021 and 2020, or operation results for the year ended December 31, 2021, and therefore, no adjustment has been proposed accordingly.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IFRS 1 allows an entity that used full cost accounting under its previous GAAP to elect, at the time of adoption to IFRS, to measure oil and gas assets in the development and production phases by allocating the amount determined under the entity’s previous GAAP for those assets to the underlying assets pro rata using a reasonable method as of that date. The costs of development and production assets have been separately recorded by the Company for each group of assets. The Company has continued to apply its existing policy under US GAAP as allowed by IFRS 6 to expense geological and geophysical costs as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the Company elected the oil and gas assets IFRS 1 exemption, the asset retirement obligation (“ARO”) exemption available to full cost entities was also elected. This exemption allows for the re-measurement of ARO on IFRS transition with the offset to accumulated deficit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has elected the IFRS 1 exemption that allows the Company an exemption from applying IFRS 2 “Share-Based Payments” to equity instruments which vested and settled before the Company’s transition date to IFRS.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has elected the IFRS 1 exemption that allows the Company an exemption from applying IFRS 9 “Financial Instruments” to financial instruments that were derecognized before the date of transition to IFRS on January 1, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p id="xdx_89F_ecustom--DisclosureOfDetailedInformationAboutReconciliationOfFinancialPositionAndOperationExplanatory_zWBaUzrSjOme" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reconciliation of financial position as at January 1, 2021 (date of transition to IFRS)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span><span id="xdx_8B4_zu4733oiEsO6" style="display: none">Schedule of Reconciliation of Financial Position and Operation</span></p> <table cellpadding="0" cellspacing="0" id="xdx_300_134_zcwGNTgIivr5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Reconciliation of Financial Position (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20210101__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zgiVyVmcfXqg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US GAAP<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20210101__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zqC97zo32IGf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Effect of Transition <br/> to IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20210101__ifrs-full--InitiallyAppliedIFRSsAxis__custom--IFRSMember_zL5eNjosPDB1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eifrs-full--AssetsAbstract_iB_zrNjvvJAEGK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--CurrentAssetsAbstract_i01B_zE0q3uYBPYKd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current assets:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CashAndCashEquivalents_i02I_maCAzNUz_zbFb8hV7gyn1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 12%"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">202,712</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1279">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">202,712</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--CurrentTradeReceivables_i02I_maCAzNUz_zMGKBeO5rtu7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Account receivables</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">773,311</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1283">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">773,311</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--CurrentPrepaymentsAndOtherCurrentAssets_i02I_maCAzNUz_zkhrMwByhLu6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prepaid expenses and deposits</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,302</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1287">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,302</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--CurrentAssets_i02TI_mtCAzNUz_maAz2Su_zrprRgef9fa7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total current assets</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000,325</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1291">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000,325</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OilAndGasPropertiesNet_i02I_maAz2Su_zl2Cy9Kz0FC7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Oil and gas properties, net</td><td> </td> <td style="text-align: center">1,2,5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,346,916</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,122,443</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,224,473</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--IntangibleExplorationAndEvaluationAssets_i02I_maAz2Su_zem7t30zeLZh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Exploration and evaluation assets</td><td> </td> <td style="text-align: center">1</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1298">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,122,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,122,443</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--PropertyPlantAndEquipment_i01I_maAz2Su_znMSauN59iKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128,257</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1303">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128,257</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--RestrictedCashAndCashEquivalents_i01I_maAz2Su_zxzkVuthMAM" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,763</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1307">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,763</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Assets_i01TI_mtAz2Su_zv3nyoMN3v1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1311">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zCwIE28XCdC8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">LIABILITIES AND STOCKHOLDERS’ EQUITY</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zbJmyRjiLnV6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--TradeAndOtherCurrentPayables_i02I_maCLzxG6_ziqVHTFsYSsl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable and accrued liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,496,510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1323">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,496,510</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--ShorttermBorrowings_i02I_maCLzxG6_zAtuc0Y1A18l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable - current</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">549,424</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1327">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">549,424</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--CurrentLeaseLiabilities_i02I_maCLzxG6_z0xYlrAdTx" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liability - current</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,116</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1331">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,116</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CurrentLiabilities_i02TI_mtCLzxG6_maLzppq_zKSbAzaMIEo2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total current liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,058,050</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1335">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,058,050</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AssetRetirementObligations_i02I_maLzppq_z0VMFgL6dhle" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Asset retirement obligation</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,010,624</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,344,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,355,422</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--LongtermBorrowings_i02I_maLzppq_zFGHN2UTqzMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,730</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1343">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,730</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LongTermConvertibleDebt_i02I_maLzppq_zROc4UksJio8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible debt</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1347">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--NoncurrentDerivativeFinancialLiabilities_i02I_maLzppq_zs4ejAsMXrP1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Derivative liability</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,804,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1351">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,804,572</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--NoncurrentLeaseLiabilities_i02I_maLzppq_zG3ypeP74iUl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27,693</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1355">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27,693</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Liabilities_i01TI_mtLzppq_maEALzXlV_z8dNuogfgIpl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,929,696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,344,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,274,494</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--EquityAbstract_i01B_zMI2GpExYiwk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stockholders’ deficiency:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--AdditionalPaidinCapital_i02I_maEzjbb_zfoXxoFi3fb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additional paid in capital</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,508,468</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(27,508,468</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1368">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--IssuedCapital_i02I_maEzjbb_zL3csYA2Tyk2" style="vertical-align: bottom; background-color: White"> <td>Share capital</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,253</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,331,369</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,332,622</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--StockSubscriptionsAndStockToBeIssued_i02I_maEzjbb_zVeqjDTsVCk9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock subscriptions and stock to be issued</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,342</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1375">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,342</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--OtherEquityInterest_i02I_maEzjbb_zXMvzwflHzS3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Notes and amounts receivable for equity issued</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--OtherReserves_i02I_maEzjbb_zppswX8ia0zb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant and option reserve</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1382">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,177,099</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,177,099</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--SharesToBeCancelled_i02I_maEzjbb_zkrpdmOZZNm9" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shares to be cancelled</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ObligationToIssueShares_i02I_maEzjbb_znoT05JSJlcf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Obligation to issue shares</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"></td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--AccumulatedOtherComprehensiveIncome_i02I_maEzjbb_zusLzEV0ieRh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated other comprehensive loss</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(490,172</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1395">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(490,172</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eifrs-full--RetainedEarnings_i02I_maEzjbb_zEPM8nlXh5Jl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated deficit</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(28,477,326</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,344,798</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(33,822,124</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eifrs-full--Equity_i02TI_pp0p0_mtEzjbb_maEALzXlV_z92jCZ9Kuxw8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total stockholders’ deficiency</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,442,435</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,344,798</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,787,233</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--EquityAndLiabilities_i01TI_pp0p0_mtEALzXlV_zYhTIelQmfm4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities and stockholders’ deficiency</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1407">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reconciliation of financial position as at December 31, 2021 </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <table cellpadding="0" cellspacing="0" id="xdx_30C_134_zWpw1Mw0Y5If" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Reconciliation of Financial Position (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zfu5Yt3oROSh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US GAAP<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_z2JCZudg7fu1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Restatement (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_z8o59hQycb4c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Effect of Transition <br/> to IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20211231__ifrs-full--InitiallyAppliedIFRSsAxis__custom--IFRSMember_zShYHIh559Vf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eifrs-full--AssetsAbstract_iB_zujbl2i5HEvl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--CurrentAssetsAbstract_i01B_z9sH3V6IR7Fl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current assets:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CashAndCashEquivalents_i02I_maCAzNUz_zCUPQpyjEe0l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 11%"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,026,990</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1421">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1422">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,026,990</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--CurrentTradeReceivables_i02I_maCAzNUz_zujtACAH48Ij" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts receivable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">709,805</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1426">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1427">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">709,805</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--CurrentPrepaymentsAndOtherCurrentAssets_i02I_maCAzNUz_zbJMTsJkkWO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prepaid expenses and deposits</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95,503</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1431">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1432">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95,503</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--CurrentAssets_i02TI_mtCAzNUz_maAz2Su_zQBYIEGQFmtj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total current assets</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,832,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1436">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1437">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,832,298</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OilAndGasPropertiesNet_i02I_maAz2Su_zMsA8BxHAvd1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Oil and gas properties, net</td><td> </td> <td style="text-align: center">1,2,5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,172,943</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1441">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,752,330</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,420,613</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--IntangibleExplorationAndEvaluationAssets_i02I_maAz2Su_zDMetP8Q172a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Exploration and evaluation assets</td><td> </td> <td style="text-align: center">1</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1445">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1446">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,116,146</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,116,146</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--PropertyPlantAndEquipment_i01I_maAz2Su_zCJX8Dec7xoi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">147,134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1451">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1452">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">147,134</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--RestrictedCashAndCashEquivalents_i01I_maAz2Su_zMYTDOxu7fZ5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,438</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1456">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1457">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,438</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Assets_i01TI_mtAz2Su_z7ESL9wSgKW3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,157,813</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1461">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(636,184</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,521,629</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zUYp8fru2B0h" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">LIABILITIES AND STOCKHOLDERS’ EQUITY</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zg3pQjiXwoAf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--TradeAndOtherCurrentPayables_i02I_maCLzxG6_zfQ3Ixx6r4Wf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable and accrued liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">852,481</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1476">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1477">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">852,481</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--ShorttermBorrowings_i02I_maCLzxG6_z1bPBAtypGdc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630,534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1481">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1482">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630,534</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--CurrentLeaseLiabilities_i02I_maCLzxG6_zGRPHHrq4w8h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,732</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1486">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1487">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,732</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CurrentLiabilities_i02TI_mtCLzxG6_maLzppq_zLQpRIFRTkq2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total current liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,489,747</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1491">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1492">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,489,747</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AssetRetirementObligations_i02I_maLzppq_zbGMSyHfUrz" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Asset retirement obligation</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,426,978</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1496">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,566,130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,993,108</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--LongtermBorrowings_i02I_maLzppq_zW8QTh8GZLR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,513</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1501">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1502">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,513</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--NoncurrentDerivativeFinancialLiabilities_i02I_maLzppq_ztAnXCqhfcBi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Derivative liability</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">472,899</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1506">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1507">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">472,899</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--NoncurrentLeaseLiabilities_i02I_maLzppq_zdzDU54jaug5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,592</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1511">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1512">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,592</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Liabilities_i01TI_mtLzppq_maEALzXlV_zBiBm5kchEDh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,416,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1516">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,566,130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,982,859</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--EquityAbstract_i01B_zU90McQexMhk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stockholders’ equity (deficiency):</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--AdditionalPaidinCapital_i02I_maEzjbb_zt3rRkScnz5h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital</td><td> </td> <td style="text-align: center">3,4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,295,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,064,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,359,813</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1528">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--IssuedCapital_i02I_maEzjbb_zDYM07iHMlp2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Share capital</td><td> </td> <td style="text-align: center">3,4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,828</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1531">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,115,302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,117,130</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--OtherEquityInterest_i02I_maEzjbb_zpd82oAXh3c7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Notes and amounts receivable for equity issued</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,193,641</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1536">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1537">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,193,641</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eifrs-full--OtherReserves_i02I_maEzjbb_zzF1c6CEXCR3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrant and option reserve</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1540">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1541">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,165,170</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,165,170</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--SharesToBeCancelled_i02I_maEzjbb_zz3UxneKVZz7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Shares to be cancelled</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1546">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1547">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,323</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ObligationToIssueShares_i02I_maEzjbb_zdxoShNZN604" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Obligation to issue Shares</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1551">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1552">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,450</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--AccumulatedOtherComprehensiveIncome_i02I_maEzjbb_zHG58Edcqlpl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated other comprehensive loss</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(847,412</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1556">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1557">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(847,412</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eifrs-full--RetainedEarnings_i02I_maEzjbb_zQDopO6Jgdtl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accumulated deficit</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(30,527,877</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,122,973</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(38,715,250</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eifrs-full--Equity_i02TI_pp0p0_mtEzjbb_maEALzXlV_zNViKh444bS2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total stockholders’ equity (deficiency)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">741,084</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1566">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,202,314</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,461,230</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--EquityAndLiabilities_i01TI_pp0p0_mtEALzXlV_zWZGt3W0Tave" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities and stockholders’ equity (deficiency)</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,157,813</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1571">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(636,184</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,521,629</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reconciliation of operation results for the year ended December 31, 2021 </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_306_134_zpemPLKOWRi1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Reconciliation of Operation (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zhUJw8MAAczc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US GAAP<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zC2Bc1lIrbZe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Restatement<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zEcmW10UGKHh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Effect of Transition <br/> to IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20210101__20211231__ifrs-full--InitiallyAppliedIFRSsAxis__custom--IFRSMember_zk6wb6wxDMZ1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eifrs-full--RevenueAbstract_iB_zjEGnnbAu0kc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--RevenueFromSaleOfOilAndGasProducts_i01_znuxr1CjpXJ1" style="vertical-align: bottom; background-color: White"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">Oil and natural gas sales</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 11%; text-align: center; padding-bottom: 1pt"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right">3,700,727</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1581">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1582">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right">3,700,727</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--CostAndExpensesAbstract_iB_zqI6xGQE26Pb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cost and expenses</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--Production_i01_zlORnT1YKbt8" style="vertical-align: bottom; background-color: White"> <td>Production</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,617,118</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1591">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1592">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,617,118</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DepletionExpense_i01_zpjAzwHfXjAk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depletion</td><td> </td> <td style="text-align: center">5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">233,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1596">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181,888</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">415,686</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--DepreciationExpense_i01_zy5kdxLIMa0e" style="vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1601">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1602">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,768</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccretionOfAssetRetirementObligation_i01_zsYoyeoYDNO" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">416,354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1606">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(324,371</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,983</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--InvestorRelations_i01_zke6xi77xi81" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investor relations</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">914,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1611">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1612">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">914,770</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_i01_zUcMXo5ggs3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock based compensation</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,366</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1616">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1617">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,366</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--GeneralAndAdministrativeExpense_i01_zXM0xDBO2J6h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,248,164</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1621">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1622">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,248,164</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--ExpenseByNature_i01T_zJ0oZoPGMeGk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total expenses</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,798,338</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1626">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(142,483</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,655,855</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--ProfitLossBeforeTax_iT_zgPTfY25zeBi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Loss before other income (expenses)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,097,611</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1631">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">142,483</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,955,128</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--ExpenseByNatureAbstract_iB_zgoWMlc2R3gl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expenses)</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--RevenueFromInterest_i01_zbHoPEEcZeK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest income</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1641">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1642">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,217</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--InterestExpense_i01N_di_zvB8sei9Pa3b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,027</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1646">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1647">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,027</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eifrs-full--FinanceCosts_i01N_di_zQv7Qzzww62" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance cost</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(176,386</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1651">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1652">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(176,386</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eifrs-full--GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_i01_pp0p0_zXC6dPKUSgL1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign exchange loss</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1656">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1657">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,669</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--GainLossOnExtinguishmentAccountsPayable_i01_zdCHRJpuhgJd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on debt extinguishment</td><td> </td> <td style="text-align: center">4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(238,724</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1661">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79,341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(159,383</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eifrs-full--GainsLossesOnChangeInFairValueOfDerivatives_i01_zcxkEIwi3tJ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of derivative liability</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,473,638</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,064,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1667">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,590,762</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eifrs-full--GainsOnDisposalsOfPropertyPlantAndEquipment_i01_zlZjZMfqgfl1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on disposal of equipment</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,074</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1671">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1672">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,074</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--OtherIncomeExpense_i01_zQ1ao5I0w3C3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other expense</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,600</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1676">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1677">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,600</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--OtherOperatingIncomeExpense_i01T_zCaegKUrG2W3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total other income (expenses)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,047,061</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">79,341</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,937,998</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eifrs-full--ProfitLoss_iT_zYMUL1s6JrTc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,050,550</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">221,824</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,893,126</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Loss per share</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_904_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_z8Nh7ESvkha" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_905_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_z9vKJHyXxoug" title="Loss per share - diluted">(0.06</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_900_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zNdx3DE5LRu4" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_904_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zaQEXWrpGIEf" title="Loss per share - diluted">(0.10</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_903_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zhtaKV7PhWsf" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_90A_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zRzZnk7B9H5f" title="Loss per share - diluted">0.01</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_909_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231_zFtmM2AIAS46" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_90F_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231_zkKPonRPiwrc" title="Loss per share - diluted">(0.15</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average number of shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_904_eifrs-full--WeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zXlcNZqLrKsb" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_90D_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zjJ7zKq44Wl8" title="Weighted average shares outstanding - diluted">31,633,222</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_903_eifrs-full--WeightedAverageShares_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_z8BcCaeKjtNg" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_902_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zatGtG9gMEH7" title="Weighted average shares outstanding - diluted"><span style="-sec-ix-hidden: xdx2ixbrl1710"><span style="-sec-ix-hidden: xdx2ixbrl1712">-</span></span></span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_909_eifrs-full--WeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zWRbzMqZNw4l" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_902_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zYGEPUdZ3Kz8" title="Weighted average shares outstanding - diluted"><span style="-sec-ix-hidden: xdx2ixbrl1714"><span style="-sec-ix-hidden: xdx2ixbrl1716">-</span></span></span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_909_eifrs-full--WeightedAverageShares_c20210101__20211231_zJkced73SxVg" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_907_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231_z4kUMGMpLDO2" title="Weighted average shares outstanding - diluted">31,633,222</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--OtherComprehensiveIncomeAbstract_iB_zjZdsRQNjenj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other comprehensive loss</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_i01_z8uPyiKiUJXe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(357,240</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1728">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1729">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(357,240</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eifrs-full--ComprehensiveIncome_i01T_z3ckxPz0saal" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Comprehensive loss</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,407,790</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">221,824</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,250,366</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> <p id="xdx_8A9_zw7CodhZdD3f" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Notes to the reconciliations</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The reconciling items between US GAAP and IFRS presentation have no significant effect on the cash flows generated. Therefore, a reconciliation of cash flows has not been presented above.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets (“E&amp;E assets”)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An adjustment has been made to reclassify the presentation of the Company’s Bulgarian property as exploration and evaluation assets as it is not a property under development or production, in accordance with IFRS.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset retirement obligation</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under US GAAP, the ARO was discounted at a rate of <span id="xdx_90F_ecustom--DiscountRate_pid_dp_c20210101__20211231_zEPPZsIQGqKf" title="Discount rate">10</span>%, as prescribed by the U.S. Securities and Exchange Commission. Under IFRS, the discount rate used is the risk-free rate in effect at the end of each reporting period for the risk-adjusted cash flows. The change in the decommissioning obligation each period as a result of changes in the discount rate will result in an offsetting charge to oil and gas properties. Upon the Company’s transition to IFRS, the impact of this change was a $<span id="xdx_90A_ecustom--IncreaseInAssetRetirementObligations_iI_c20210101_zzTRsRNsSJt1" title="Increase in asset retirement obligation">5,344,798</span> increase in the ARO with a corresponding increase to the deficit on the consolidated statement of financial position, using an average risk-free rate of <span id="xdx_90A_ecustom--RiskFreeRate_iI_pid_dp_c20210101_zKUISCFi5JB4" title="Risk free rate">0.93</span>% as at January 1, 2021. As at December 31, 2021, the average risk-free rate was reassessed to be <span id="xdx_902_ecustom--RiskFreeRate_iI_pid_dp_c20211231_zBuQCT1IqKgb" title="Risk free rate">1.49</span>% and the impact was a $<span id="xdx_907_ecustom--IncreaseInAssetRetirementObligations_iI_c20211231_zRs9nqLoUsIk" title="Increase in asset retirement obligation">4,566,130</span> increase in the ARO.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the change in discount rate, the ARO accretion expense decreased by $<span id="xdx_906_ecustom--AccretionOfAssetRetirementObligation_iN_di_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zHJtiJkryTO4" title="Asset retirement obligation accretion expense">324,371</span> during the year ended December 31, 2021, due to the lower discount rate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Option reserve and share premium</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under US GAAP, share-based payments were presented as additional paid-in capital. Upon transition to IFRS, a reclassification adjustment has been made to separately present the amount related to share-based compensation of $<span id="xdx_90F_eifrs-full--OtherReserves_iI_c20210101_zN91buG2ABD1" title="Option reserve and share premium">1,177,099</span> as at January 1, 2021. The remaining additional paid-in capital has been reclassified to share capital. The reclassification adjustment as at December 31, 2021 was $<span id="xdx_906_ecustom--ReclassificationAdjustment_iI_c20211231_zeAN0PRuUf7" title="Reclassification adjustment">1,040,779</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss on convertible debt extinguishment</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under US GAAP, when conversion features have been bifurcated from the conversion debt host and accounted for as liabilities, no equity conversion feature remains in the debt instrument. The liabilities for the debt and the conversion feature are extinguished in exchange for common shares, the difference between the carrying value of the liabilities and the fair value of the common shares ae recorded as a gain or loss. IFRS requires the entity to derecognize the liability component and recognize it as equity on conversion of a convertible instrument and no gain or loss is recognized. As a result of the difference between the two accounting standards, for the year ended December 31, 2021, the loss on debt extinguishment decreased by $<span id="xdx_903_ecustom--GainLossOnExtinguishmentAccountsPayable_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_z89KptqNJjgi" title="Loss on debt extinguishment">79,341</span>, with an offsetting charge to equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depletion</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is depleting its oil and gas properties over the proved reserves. IFRS requires an entity to include the estimated future costs to develop the reserves in the calculation of depletion. The calculation of depletion under US GAAP did not include the estimated future development costs as the Company applied Electronic Code of Federal Regulation Title 17 Section 210.4-1, Financial accounting and reporting for oil and gas producing activities pursuant to the Federal securities laws and the Energy Policy and Conservation Act of 1975, to exclude the estimated future expenditures associated with a major development. As a result, oil and gas properties, net, increased by $<span id="xdx_90D_ecustom--IncreaseInOilAndGasProperties_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zs5eJccbUN22" title="Increase in oil and gas properties">181,888</span> as at December 31, 2021. For the year ended December 31, 2021, the depletion charge included in the consolidated statements of loss and comprehensive loss, increased by $<span id="xdx_909_ecustom--DepletionExpense_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zdwg64klQ1Td" title="Depletion charge">181,888</span>.</span></p> <p id="xdx_853_z4yxxZEXPWO6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> (a) Basis of Presentation   The audited consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) and Interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”), effective as at January 1, 2023. The consolidated financial statements are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries Park Place Energy Corp. (“PPE Corp.”), Park Place Energy Bermuda (“PPE Bermuda”), BG Exploration EOOD (“BG Exploration”), and Park Place Energy Turkey (“PPE Turkey”). The Company’s oil and gas operations are conducted jointly with its joint venture partner (Note 6). The joint arrangement meets the definition of a joint operation under IFRS 11, “Joint Arrangements” (“IFRS 11”); therefore, the Company’s share of the assets, liabilities, revenues and expenses are recorded in the consolidated financial statements. All intercompany balances and transactions are eliminated on consolidation.   472899 163162 <p id="xdx_89F_ecustom--DisclosureOfExplorationAndDevelopmentActivitiesExplanatory_zF6UDCtMzgSf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zdR1OdLlX433" style="display: none">Schedule of Exploration and Development Activities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 26%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of the joint</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">arrangement</span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 22%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nature of the relationship</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">with the joint arrangement</span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 22%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal place of operation</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of joint arrangement</span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 24%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proportion of</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">participating share</span></p></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">South Akcakoca Sub-Basin (“SASB”)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operator</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Turkey</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eifrs-full--ProportionOfOwnershipInterestInJointOperation_pid_dp_uPure_c20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_zgIeZDJuv9zb" title="Proportion of participating share">49</span>%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cendere</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Participant</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Turkey</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eifrs-full--ProportionOfOwnershipInterestInJointOperation_pid_dp_uPure_c20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--CendereMember_zWVYF94PpuU5" title="Proportion of participating share">19.6</span>%</span></td></tr> </table> 0.49 0.196 473907 1859 1128 731 442 0.65 0.64 18984099 1826495 <p id="xdx_848_ecustom--DescriptionOfAccountingPolicyForUseOfEstimatesAndJudgementsExplanatory_z73WnlZO3k2i" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_869_zPRpJnBoDtDl">Use of Estimates and Judgments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the process of applying the Company’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Functional Currency</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The functional currency for the Company and each of its subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of the functional currency involves certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions which determined the primary economic environment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Determination of Cash Generating Units (“CGUs”)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A CGU is the lowest grouping of integrated assets that generate identifiable cash inflows that are largely independent of the cash inflows of other assets or groups of assets. The allocation of assets into CGUs requires significant judgment and interpretations with respect to the integration between assets, the existence of active markets, similar exposure to market risks, shared infrastructure, and the way in which management monitors the operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Going concern</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The assessment of the Company’s ability to continue as a going concern and to raise sufficient funds to pay its ongoing operating expenditures and to meet its liabilities for the ensuing year, involves significant judgment based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Asset Retirement Obligation</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Management applies judgment in assessing the existence and extent as well as the expected method of reclamation of the Company’s decommissioning and restoration obligations at the end of each reporting period. Management also uses judgment to determine whether the nature of the activities performed is related to decommissioning and restoration activities or normal operating activities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the process of applying the Company’s accounting policies, management has made the following estimates, which have the most significant effect on the amounts recognized in the consolidated financial statements:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Convertible debt</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company completed a convertible debenture financing. The convertible debentures include certain conversion features and associated warrants which were valued using the option pricing model and required significant assumptions to be made by management to value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Oil and Gas Reserves</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s estimate of oil and gas reserves is considered in the measurement of depletion, depreciation, impairment, and decommissioning and restoration obligations. The estimation of reserves is an inherently complex process and involves the exercise of professional judgment. All reserves are evaluated annually by independent qualified reserves evaluators. Oil and gas reserves estimates are based on a range of geological, technical and economic factors, including projected future rates of production, projected future commodity prices, engineering data, and the timing and amount of future expenditures, all of which are subject to uncertainty. Estimates reflect market and regulatory conditions existing at the evaluation date, which could differ significantly from other points in time throughout the period, or future periods. Changes in market and regulatory conditions and assumptions, as well as climate change, and the evolving worldwide demand for energy and global advancement of alternative sources of energy that are not sourced from fossil fuels can materially impact the estimation of net reserves.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Allowance for doubtful accounts</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimates are inherent in the on-going assessment of the recoverability of amounts receivable. The Company maintains an allowance for doubtful accounts to reflect the expected credit losses. Uncertainty relates to the actual collectability of customer balances that can vary from the Company’s estimation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Asset Retirement Obligation</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Actual costs are uncertain, and estimates may vary as a result of changes to relevant laws and regulations related to the use of certain technologies, the emergence of new technology, operating experience, prices and closure plans. The estimated timing of future decommissioning and restoration may change due to certain factors, including reserves life. Changes to estimates related to future expected costs, discount rates, inflation assumptions, and timing may have a material impact on the amounts presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Estimated useful lives and depreciation of equipment </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation of equipment is dependent upon estimates of useful lives which are determined through the exercise of judgment. Changes to the estimated useful life of equipment could result in differences in their carrying amounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leases – Estimating the incremental borrowing rate</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company cannot readily determine the interest rate implicit in leases where it is the lessee. As such, it uses its incremental borrowing rate (“IBR”) to measure lease liabilities. The IBR is the rate of interest that the Company would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of comparable value to the right-of-use asset in a similar economic environment. IBR therefore reflects what the Company “would have to pay”, which requires estimation when no observable rates are available or where the applicable rates need to be adjusted to reflect the terms and conditions of the lease. The Company estimates the IBR using observable inputs (such as market interest rates) when available and makes certain entity-specific estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leases – Estimating the lease term </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company includes renewal options in the term of the lease when management deems that it is reasonably certain that the option will be exercised.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Impairment of Non-current Assets</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management applies judgment in assessing the existence of impairment indicators based on various internal and external factors. The recoverable amount of assets is determined based on the higher of fair value less costs of disposal or value-in-use calculations. The key estimates the Company applies in determining the recoverable amount normally include estimated future commodity prices, discount rates, expected production volumes, future operating and development costs, income taxes, and operating margins. In determining the recoverable amount, management may also be required to make judgments regarding the likelihood of occurrence of a future event. Changes to these estimates and judgments will affect the recoverable amounts of assets and may then require a material adjustment to their related carrying value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stock-based Compensation </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cost of equity-settled stock-based transactions (options, warrants, and equity-settled RSUs) with directors, officers and employees are measured by reference to the fair value of the equity instruments. Estimating fair value for equity-settled stock-based payment transactions requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the grant. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the stock option. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash-settled RSUs are accounted for as liability instruments and are measured at fair value based on the market value of the Company’s common shares at each reporting period. The fair value is recognized as stock-based compensation over the vesting period. Fluctuations in the fair values are recognized as stock-based compensation over the vesting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Fair Value of Derivative Liability</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s warrants and conversion features with exercise prices denominated in a currency other the Company’s functional currency are recognized as derivatives measured at fair value through the consolidated statements of income (loss) and comprehensive income (loss). Estimating fair value for derivative liability requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the issuance. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the derivatives. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Deferred Tax </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Judgments are made by management at the end of the reporting period to determine the probability that deferred tax assets will be realized from future taxable earnings. Assessing the recoverability of deferred tax assets requires the Company to make judgments related to the expectations of future cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognized in consolidated statements of income (loss) and comprehensive income (loss) in the period in which the change occurs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_zF6hppfCpeSb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86F_zNUknsDyRI74">Cash and Cash Equivalents</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eifrs-full--DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory_z5jtDMBnFfF9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_zb8gXT3Ql10j">Amounts Receivable</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts receivable consist primarily of oil and gas receivables. The Company has classified these as current assets in the consolidated statements of financial position because the Company expects repayment or recovery within the next 12 months. The Company evaluates these accounts receivable for collectability and, when necessary, records allowance for doubtful accounts. The Company deems all accounts receivable to be collectable and has not recorded any expected credit losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eifrs-full--DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_zdZkXsYbHeob" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_z3ybvkIT7Rhl">Property and Equipment</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful life of the asset. <span id="xdx_905_eifrs-full--DepreciationMethodPropertyPlantAndEquipment_c20230101__20231231_zy26BuvtprZ" title="Property and equipment, depreciation useful lives description">The estimate useful lives are as follows: Motor vehicles – <span id="xdx_903_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20230101__20231231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--MotorVehiclesMember_z3JSFiLopTV4" title="Property and equipment, depreciation useful lives">3</span> years; furniture – <span id="xdx_908_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20230101__20231231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember__srt--RangeAxis__ifrs-full--BottomOfRangeMember_zmjpPhuWONYb" title="Property and equipment, depreciation useful lives">3</span> to <span id="xdx_906_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20230101__20231231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember__srt--RangeAxis__ifrs-full--TopOfRangeMember_zNMZBxoQko8k" title="Property and equipment, depreciation useful lives">5</span> years; leasehold improvements – over the term of the lease and other equipment - <span id="xdx_90F_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20230101__20231231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--OtherPropertyPlantAndEquipmentMember_zFT3uYvtBT73" title="Property and equipment, depreciation useful lives">3</span> years.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> The estimate useful lives are as follows: Motor vehicles – 3 years; furniture – 3 to 5 years; leasehold improvements – over the term of the lease and other equipment - 3 years. P3Y P3Y P5Y P3Y <p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyForRecognitionOfRevenue_zeB9HRxM4Vw1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86A_zJwf5G4dZKh">Revenue Recognition</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Revenue from Contracts with Customers</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue when it satisfies its performance obligation(s) by transferring control over a product to a customer. Revenue is measured based on the consideration the Company expects to receive in exchange for those products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Performance Obligations and Significant Judgments</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company sells oil and natural gas products in Turkey. The Company enters into contracts that generally include one type of distinct product in variable quantities and priced based on a specific index related to the type of product.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The oil and natural gas are typically sold in an unprocessed state to processors and other third parties for processing and sale to customers. The Company recognizes revenue at a point in time when control of the oil is transferred. For oil sales, control is typically transferred to the customer upon receipt at the wellhead or a contractually agreed upon delivery point. Under the Company’s natural gas contracts with processors, control transfers upon delivery at the wellhead or the inlet of the processing entity’s system. For the Company’s other natural gas contracts, control transfers upon delivery at the inlet or to a contractually agreed upon delivery point. In the cases where the Company sells to a processor, the Company has determined that the Company is the principal in the arrangement and the processors are the Company’s customers. The Company recognizes the revenue in these contracts based on the net proceeds received from the processor.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the Company’s product sales that have a contract term greater than one year, the Company uses the practical expedient in IFRS 15 Paragraph 121(a) which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to an unsatisfied performance obligation. Under these sales contracts, each unit of product represents a separate performance obligation; therefore, future volumes are unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required. The Company has no unsatisfied performance obligations at the end of each reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not believe that significant judgments are required with respect to the determination of the transaction price, including any variable consideration identified. There is a low level of uncertainty due to the precision of measurement and use of index-based pricing with predictable differentials. Additionally, any variable consideration identified is not constrained.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eifrs-full--DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures_zQCjljQuyfuj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_866_zIVJ5thtGoDe">Evaluation and Exploration Assets</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-license exploration costs are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The costs to acquire non-producing oil and gas properties or licenses to explore, drill exploratory wells and the costs to evaluate the commercial potential of underlying resources, including related borrowing costs, are initially capitalized as exploration and evaluation assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets are subject to technical, commercial and management review to confirm the continued intent to develop and extract the underlying resources. If an area or exploration well is no longer considered commercially viable, the related capitalized costs are charged to exploration expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets are not subject to depreciation, depletion, and amortization. When management determines with reasonable certainty that an exploration and evaluation asset will be developed, as evidenced by the classification of proved or probable reserves and the appropriate internal and external approvals, the asset is transferred to oil and gas properties. The Company records geological and geophysical expenses to the consolidated statements of income (loss) and comprehensive income (loss) as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eifrs-full--DescriptionOfAccountingPolicyForOilAndGasAssetsExplanatory_zm7CuxHhtqC3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86D_zFDUtrOe7XFb">Oil and Gas Properties</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oil and gas properties (“O&amp;G”) include development and productions costs, less accumulated depletion and depreciation and accumulated impairment loss. O&amp;G are grouped into CGUs for impairment testing. The Company has grouped its O&amp;G into two CGUs: the Cendere Oil Field and SASB Gas Field.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When significant parts of an item of O&amp;G have different useful lives, they are accounted for as separate items (major components). Costs incurred subsequent to the determination of technical feasibility and commercial viability and the costs of replacing parts of O&amp;G are capitalized only when they increase the future economic benefits embodied in the specific asset to which they relate. All other expenditures are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such capitalized items generally represent costs incurred in developing proved and/or probable reserves and bringing on or enhancing production from such reserves and are accumulated on a field or geotechnical area basis. The carrying amount of any replaced or sold component is derecognized. The costs of the day-to-day servicing of oil and gas properties are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oil and Gas Properties (continued)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The net carrying value of O&amp;G is depleted using the unit-of-production method by reference to the ratio of production in the year to the related proved reserves, considering estimated future development costs necessary to bring those reserves into production. The estimated future development costs is added to the carrying value of O&amp;G to calculate depletion. These estimates are reviewed by independent reservoir engineers at least annually.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_z6dYe2a0CURa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_zLQM2dACe5ee">Impairment of Non-financial Assets</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets, O&amp;G, and property and equipment are reviewed when events or changes in circumstances indicate the assets may not be recoverable. Exploration and evaluation assets are also tested for impairment immediately prior to being transferred to O&amp;G. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. Impairment exists when the carrying value of an asset exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In assessing value in use, the estimated future cash flows are discounted to their present value using a pretax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the consolidated statements of income (loss) and comprehensive income (loss). For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the CGU to which the asset belongs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These calculations are based on available data, other observable inputs, and projections of cash flows, all of which are subject to estimates and assumptions. Recoverable amounts are also sensitive to assumptions about the future usefulness of in-process development and the related marketing rights.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eifrs-full--DescriptionOfAccountingPolicyForProvisionsExplanatory_z89SMuqxRKgi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_869_z5K0KkodPmm3">Provisions</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions are recognized by the Company when it has a legal or constructive obligation as a result of past events, it is probable that an outflow of economic resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions are recognized for the asset retirement obligation associated with the Company’s exploration and evaluation assets and O&amp;G. Provisions for the asset retirement obligation are measured at the present value of management’s best estimate of the future cash flows required to settle the present obligation, using the risk-free interest rate. The value of the obligation is added to the carrying amount of the associated asset and amortized over the useful life of the asset. The provision is accreted over time with actual expenditures charged against the accumulated obligation. Changes in the future cash flow estimates resulting from revisions to the estimated timing or amount of undiscounted cash flows are recognized as a change in the asset retirement obligation and related assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eifrs-full--DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_zyFzoZkJDt9a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_866_z9K9d7oUxOO3">Financial Instruments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Classification </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies its financial instruments into one of the following categories: fair value through profit or loss (“FVTPL”), fair value through other comprehensive income (“FVOCI”), or at amortized cost. This determination is made at initial recognition. All financial instruments are initially recognized at fair value on the consolidated statements of financial position, net of any transaction costs except for financial instruments classified as FVTPL, where transaction costs are expensed as incurred. Subsequent measurement of financial instruments is based on their classification. The Company classifies its derivative liability and cash and cash equivalents as FVTPL, amounts receivable and notes and amounts receivable for equity issued as financial assets at amortized cost, and accounts payable and accrued liabilities, loans payable, and convertible debt as financial liabilities at amortized cost. Embedded derivatives in other financial instruments or other host contracts are recorded as separate derivatives when their risks and characteristics are not closely related to those of the host contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Measurement</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets and liabilities at amortized cost </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost sing the effective interest rate (“EIR”), less any impairment. Amortized cost is calculated by taking into account any discount or premium on acquisition and any fees or costs that are an integral part of the EIR. The EIR amortization is included in finance income in the consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets and liabilities at FVTPL</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of income (loss) and comprehensive income (loss). Realized and unrealized gains and losses arising from subsequent changes in the fair value of the financial assets and liabilities held at FVTPL are included in the consolidated statements of income (loss) and comprehensive income (loss) in the period in which they arise.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Debt investments at FVTOCI</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These assets are subsequently measured at fair value. Interest income calculated using the EIR method, foreign exchange gains and losses and impairment are recognized in the consolidated statements of income (loss) and comprehensive income (loss). Other net gains and losses are recognized in other comprehensive income (“OCI”). On derecognition, net gains and losses accumulated in OCI are reclassified to the consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity investments at FVTOCI</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These assets are subsequently measured at fair value. Dividends are recognized as income in the consolidated statements of income (loss) and comprehensive income (loss) unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Impairment of Financial Assets at Amortized Cost</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes an allowance for doubtful accounts on financial assets that are measured at amortized cost. At each reporting date, the Company measures the allowance for doubtful accounts for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date the credit risk has not increased significantly since initial recognition, the Company measures the allowance for doubtful accounts for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the consolidated statements of income (loss) and comprehensive income (loss), as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the allowance for doubtful accounts at the reporting date to the amount that is required to be recognized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Fair value</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value estimates are made at the consolidated statements of financial position date based on relevant market information and other information about financial instruments. Financial assets and financial liabilities measured at fair value in the consolidated statements of financial position are grouped into a fair value evaluation hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This hierarchy groups financial assets and financial liabilities into three levels according to the significance of the inputs used in the fair value evaluation of the financial assets and financial liabilities. The fair value levels of the hierarchy are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 – Quoted prices (unadjusted) in active markets for identical assets and liabilities at the financial reporting date;</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 – Inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 – Inputs for the assets or liabilities that are not based on observable market data.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The level within which the financial asset or financial liability is classified is determined based on the lowest level of significant input to the fair value measurement. The Company’s cash and cash equivalents is categorized as Level 1 and its derivative liability is categorized as Level 3.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Derecognition </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derecognizes financial assets only when the contractual rights to cash flow from the financial assets expire, or when it transfers the financial assets and substantially all the associated risks and rewards of ownership to another entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -14.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial liabilities</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derecognizes financial liability when its contractual obligations are discharged or cancelled or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and / or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is initially recognized at fair value. Gains and losses on derecognition are recognized in consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eifrs-full--DescriptionOfAccountingPolicyForIncomeTaxExplanatory_zc7LRYmZWQTg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86E_zugFFWWK9gn1">Income Taxes</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Current Tax</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the countries where the Company operates and generates taxable income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Deferred Tax</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax is recognized on temporary differences at the reporting date arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax relating to items recognized directly in OCI or equity is recognized in OCI or equity and not in profit or loss</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying amount of deferred tax assets is reviewed at the end of each reporting period and recognized only to the extent that it is probable that future taxable income will be available to allow all or part of the temporary differences to be utilized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted and are expected to apply by the end of the reporting period. Deferred tax assets and deferred income tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_zHn4YdIcULQh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_869_zzSGItSVQnJ1">Stock-Based Compensation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the Company’s equity-based compensation plans, stock-based awards may be granted to executives, employees, and non-employee directors. The Company grants restricted share units (“RSUs”) and stock options to directors, officers, employees, and consultants. An individual is classified as an employee when the individual is an employee for legal or tax purposes or provides services like those performed by an employee.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The costs of equity-settled transactions with employees are measured by reference to the fair value at the date on which they are granted, using the Black Scholes valuation model. The costs of equity-settled transactions are recognized, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled, ending on the date on which the relevant employees become fully entitled to the award (the “vesting date”). For cash settled stock-based compensation, the expense is determined based on the fair value of the liability at the end of the reporting period until the award is settled.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In situations where equity instruments are issued to non-employees and some or all of the goods or services received by the Company as consideration cannot be specifically identified, they are measured at fair value of the stock-based payment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-Based Compensation (continued)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cumulative expense is recognized for equity-settled transactions at each reporting date until the vesting date reflects the Company’s best estimate of the number of equity instruments that will ultimately vest. The profit or loss charge or credit for a period represents the movement in cumulative expense recognized as at the beginning and end of that period, and the corresponding amount is represented in the warrant and option reserve. At the end of each reporting period, the Company re-assesses its estimates of the number of awards that are expected to vest and recognizes the impact of the revisions in the consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No expense is recognized for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vesting irrespective of whether or not the market condition is satisfied provided that all other performance and/or service conditions are satisfied.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where the terms of an equity settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original terms of the award are met. An additional expense or its reduction is recognized for any modification which increases or decreases the total fair value of the stock-based payment arrangement or is otherwise beneficial to the employee as measured at the date of modification. Where an award is cancelled by the Company or the counterparty, any remaining element of the fair value of the award is expensed immediately or reversed through profit or loss, depending on the type of cancellation. The dilutive effect of outstanding options is reflected as additional dilution in the computation of earnings per share whereas anti-dilutive options are ignored.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consideration paid to the Company on exercise of stock-based awards is credited to share capital and the associated amount in warrant and option reserve is reclassified to share capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_ecustom--DescriptionOfUnitOfferingsPolicyExplanatory_zSraO1t1nCj8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86B_zaCqs3O75DP4">Unit Offerings</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common shares are classified as equity. Proceeds from unit placements are allocated between shares and warrants issued using the residual method. The residual method first allocates fair value to the component with the best evidence of fair value and then the residual value, if any, to the less easily measurable component. If the attached warrants do not meet the definition of a derivative liability, the fair value of the common shares, measured on date of issue, are determined to be the component with the best evidence of fair value. The balance, if any, is allocated to the attached warrants. If the attached warrants meet the definition of a derivative liability, the proceeds are first allocated to the fair value of the warrants and then the residual value, if any, is allocated to the common shares. Costs directly identifiable with share capital financings are charged against share capital. If the subscription is not funded upon issuance, the Company records a receivable as a contra account to shareholders’ equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eifrs-full--DescriptionOfAccountingPolicyForEarningsPerShareExplanatory_zAt1dZFEAgsb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86F_z0dVzH3iCOQ">Loss per Share</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings per share are calculated by dividing the net earnings for the period by the weighted average number of common shares outstanding during the period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diluted earnings per share is calculated by adjusting the weighted average number of common shares outstanding for dilutive common shares. The number of shares included is computed using the treasury stock method. As certain instruments can be exchanged for common shares of the Company, they are considered potentially dilutive and are included in the calculation of the Company’s diluted net earnings per share if they have a dilutive impact in the period. The impact of potentially dilutive securities is not considered in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eifrs-full--DescriptionOfAccountingPolicyForLeasesExplanatory_zzJA3GsNFohg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_869_zWPgtMzIrdZj">Leases</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At inception of a contract, the Company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset on the site on which it is located, less any lease incentives received. The assets are depreciated to the earlier of the end of the useful life of the right-of-use asset or the lease term. Judgment is applied to determine the lease term where a renewal option exists. Right-of-use assets are depreciated using the straight-line method as this most closely reflects the expected pattern of consumption of the future economic benefits. In addition, the right-of-use assets may be reduced by impairment losses or adjusted for certain remeasurements of the lease liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of twelve months or less. The lease payments are recognized as an expense when incurred over the lease term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. Lease payments include fixed payments, and variable payments that are based on an index or rate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash payments for the principal portion of the lease liability are presented within the financing activities section and the interest portion of the lease liability is presented within the operating activities section of the consolidated statements of cash flows. Short-term lease payments and variable lease payments not included in the measurement of the lease liability are presented within the operating activities section of the consolidated statements of cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eifrs-full--DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_zw93dlB24097" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_865_zFHANC6wBu9i">Foreign Currency Translation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Functional currencies of the Company’s individual entities are the currency of the primary economic environment in which the entity operates. Transactions in foreign currencies are translated to the appropriate functional currency at foreign exchange rates that approximate those on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated to the appropriate functional currency at foreign exchange rates as at the date of the statement of financial position. Foreign exchange differences arising on translation are recognized in net earnings. Non-monetary assets that are measured in a foreign currency at historical cost are translated using the exchange rate at the date of the transaction.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In preparing the Company’s consolidated financial statements, the financial statements of each entity are translated into USD, the presentation currency of the Company. The assets and liabilities of foreign operations are translated into USD at exchange rates as at the date of the statement of financial position. Revenues and expenses of foreign operations, whose functional currency is not the currency of a hyperinflationary economy, are translated into USD using average foreign exchange rates for the period. The financial statements (i.e. assets, liabilities, revenues and expenses) of foreign operations whose functional currency is the currency of a hyperinflationary economy, is first adjusted in accordance with the Company’s hyperinflation accounting policy, and then translated to USD at exchange rates as at the date of the statement of financial position. Foreign exchange differences resulting from translation from functional currency to presentation currency are recognized in other comprehensive income or loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_ecustom--DescriptionOfAccountingPolicyConvertibleDebtExplanatory_zB6C4Hq4Za4b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_863_zU7gJLnUEsO9">Convertible Debt</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of the compound financial instrument (convertible debt) issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement and the definitions of a financial liability and an equity instrument. The conversion option that will be settled by the exchange of a fixed amount in cash for a fixed number of equity instruments of the Company is classified as an equity instrument. At the issue date, the liability component is recognized at fair value, which is estimated using the interest rate on the market for similar nonconvertible instruments. Subsequently, the liability component is measured at amortized cost using the EIR until it is extinguished on conversion or maturity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The value of the conversion option classified as equity is determined at the issue date, by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This amount is recognized in equity, net of tax effects, and is not revised subsequently. When the conversion option is exercised, the equity component of the convertible notes will be transferred to share capital. No profit or gain is recognized to the conversion or expiration of the conversion option.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_ecustom--DescriptionOfAccountingPolicyAssetsHeldForSaleExplanatory_zfiRKhGZMex9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_zHaTfIgAIygl">Assets Held For Sale</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current assets are classified as held for sale if their carrying amounts will be recovered through a sale transaction rather than through continuing use. This condition is met when the sale is highly probable, the asset is available for immediate sale in its present condition and the sale is expected to be completed within one year from the date of classification.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current assets held for sale are presented separately in current assets within the consolidated statements of financial position. Assets held for sale are measured at the lower of carrying amount and fair value less cost to sell, and are not depreciated, depleted or amortized. An impairment loss is recognized for any initial or subsequent write-down of the assets held for sale to fair value less costs to sell. The comparative period consolidated statement of financial position is not restated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eifrs-full--DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations_zr3JlsE6Jghk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(t)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_zFBVeOzob4n6">New IFRS pronouncements</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain pronouncements were issued by the IASB or the IFRIC that are mandatory for accounting periods commencing on or after January 1, 2024.Many are not applicable or do not have a significant impact to the Company and have been excluded.The following have not yet been adopted and are being evaluated to determine their impact on the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IAS 1 –Presentation of Financial Statements (“IAS 1”) was amended in January 2020 to provide a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date. The amendments clarify that the classification of liabilities as current or noncurrent is based solely on a company’s right to defer settlement at the reporting date. The right needs to be unconditional and must have substance. The amendments also clarify that the transfer of a company’s own equity instruments is regarded as settlement of a liability, unless it results from the exercise of a conversion option meeting the definition of an equity instrument. The amendments are effective for annual periods beginning on January 1, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_ecustom--DisclosureOfAccountingPolicyForFirstTimeAdoptionExplanatory_zp9gz38RWTk3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(u)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_zrBDZvsEQVl1">First-time Adoption of IFRS</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements for the year ended December 31, 2022, were the first set of financial statements that the Company prepared in accordance with IFRS. The Company previously prepared its consolidated financial statements, up to and including December 31, 2021, in accordance with accounting principles generally accepted in the United States (“US GAAP”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accordingly, the Company has prepared consolidated financial statements that comply with IFRS applicable for the year ended December 31, 2022, together with the comparative period data for the year ended December 31, 2021. In preparing the consolidated financial statements for the year ended December 31, 2022, the Company’s opening consolidated statement of financial position was prepared as at January 1, 2021, the Company’s date of transition to IFRS. This note explains the principal adjustments made by the Company in restating its US GAAP consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Exemptions applied</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IFRS 1 allows first-time adopters certain exemptions from the retrospective application of certain requirements under IFRS. The Company has applied the following exemptions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IFRS 3 Business Combinations has not been applied to either acquisitions of subsidiaries that are considered businesses under IFRS, or acquisitions of interests in associates and joint ventures that occurred before January 1, 2021. The use of this exemption means that the US GAAP carrying amounts of assets and liabilities, that are required to be recognized under IFRS, are their deemed cost at the date of the acquisition. After the date of the acquisition, measurement is in accordance with IFRS. Assets and liabilities that do not qualify for recognition under IFRS are excluded from the opening IFRS statement of financial position. The Company did not recognize any assets or liabilities that were not recognized under US GAAP or exclude any previously recognized amounts as a result of IFRS recognition requirements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has not restated contracts that were completed before January 1, 2021, under IFRS 15 “Revenue from Contracts with Customers”. A completed contract is a contract for which the Company has transferred all the goods and services identified in accordance with US GAAP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company assessed all contracts existing at January 1, 2021 to determine whether a contract contains a lease based upon the conditions in place as at January 1, 2021 in accordance with IFRS 16 “Leases”. Lease liabilities were measured at the present value of the remaining lease payments, discounted using the Company’s incremental borrowing rate at January 1, 2021. Right-of-use assets were measured at the amount equal to the lease liabilities, adjusted by the amount of any prepaid or accrued lease payments relating to that lease recognized in the statement of financial position immediately before January 1, 2021. The lease payments associated with leases for which the lease term ends within 12 months of the date of transition to IFRS and leases for which the underlying asset is of low value have been recognized as an expense on either a straight-line basis over the lease term or another systematic basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The transition to IFRS 16 did not result in any material impact on the Company’s financial position as at December 31, 2021 and 2020, or operation results for the year ended December 31, 2021, and therefore, no adjustment has been proposed accordingly.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IFRS 1 allows an entity that used full cost accounting under its previous GAAP to elect, at the time of adoption to IFRS, to measure oil and gas assets in the development and production phases by allocating the amount determined under the entity’s previous GAAP for those assets to the underlying assets pro rata using a reasonable method as of that date. The costs of development and production assets have been separately recorded by the Company for each group of assets. The Company has continued to apply its existing policy under US GAAP as allowed by IFRS 6 to expense geological and geophysical costs as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the Company elected the oil and gas assets IFRS 1 exemption, the asset retirement obligation (“ARO”) exemption available to full cost entities was also elected. This exemption allows for the re-measurement of ARO on IFRS transition with the offset to accumulated deficit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has elected the IFRS 1 exemption that allows the Company an exemption from applying IFRS 2 “Share-Based Payments” to equity instruments which vested and settled before the Company’s transition date to IFRS.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has elected the IFRS 1 exemption that allows the Company an exemption from applying IFRS 9 “Financial Instruments” to financial instruments that were derecognized before the date of transition to IFRS on January 1, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p id="xdx_89F_ecustom--DisclosureOfDetailedInformationAboutReconciliationOfFinancialPositionAndOperationExplanatory_zWBaUzrSjOme" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reconciliation of financial position as at January 1, 2021 (date of transition to IFRS)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span><span id="xdx_8B4_zu4733oiEsO6" style="display: none">Schedule of Reconciliation of Financial Position and Operation</span></p> <table cellpadding="0" cellspacing="0" id="xdx_300_134_zcwGNTgIivr5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Reconciliation of Financial Position (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20210101__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zgiVyVmcfXqg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US GAAP<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20210101__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zqC97zo32IGf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Effect of Transition <br/> to IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20210101__ifrs-full--InitiallyAppliedIFRSsAxis__custom--IFRSMember_zL5eNjosPDB1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eifrs-full--AssetsAbstract_iB_zrNjvvJAEGK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--CurrentAssetsAbstract_i01B_zE0q3uYBPYKd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current assets:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CashAndCashEquivalents_i02I_maCAzNUz_zbFb8hV7gyn1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 12%"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">202,712</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1279">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">202,712</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--CurrentTradeReceivables_i02I_maCAzNUz_zMGKBeO5rtu7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Account receivables</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">773,311</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1283">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">773,311</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--CurrentPrepaymentsAndOtherCurrentAssets_i02I_maCAzNUz_zkhrMwByhLu6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prepaid expenses and deposits</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,302</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1287">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,302</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--CurrentAssets_i02TI_mtCAzNUz_maAz2Su_zrprRgef9fa7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total current assets</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000,325</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1291">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000,325</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OilAndGasPropertiesNet_i02I_maAz2Su_zl2Cy9Kz0FC7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Oil and gas properties, net</td><td> </td> <td style="text-align: center">1,2,5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,346,916</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,122,443</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,224,473</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--IntangibleExplorationAndEvaluationAssets_i02I_maAz2Su_zem7t30zeLZh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Exploration and evaluation assets</td><td> </td> <td style="text-align: center">1</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1298">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,122,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,122,443</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--PropertyPlantAndEquipment_i01I_maAz2Su_znMSauN59iKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128,257</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1303">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128,257</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--RestrictedCashAndCashEquivalents_i01I_maAz2Su_zxzkVuthMAM" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,763</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1307">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,763</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Assets_i01TI_mtAz2Su_zv3nyoMN3v1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1311">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zCwIE28XCdC8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">LIABILITIES AND STOCKHOLDERS’ EQUITY</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zbJmyRjiLnV6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--TradeAndOtherCurrentPayables_i02I_maCLzxG6_ziqVHTFsYSsl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable and accrued liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,496,510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1323">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,496,510</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--ShorttermBorrowings_i02I_maCLzxG6_zAtuc0Y1A18l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable - current</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">549,424</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1327">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">549,424</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--CurrentLeaseLiabilities_i02I_maCLzxG6_z0xYlrAdTx" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liability - current</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,116</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1331">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,116</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CurrentLiabilities_i02TI_mtCLzxG6_maLzppq_zKSbAzaMIEo2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total current liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,058,050</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1335">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,058,050</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AssetRetirementObligations_i02I_maLzppq_z0VMFgL6dhle" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Asset retirement obligation</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,010,624</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,344,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,355,422</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--LongtermBorrowings_i02I_maLzppq_zFGHN2UTqzMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,730</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1343">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,730</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LongTermConvertibleDebt_i02I_maLzppq_zROc4UksJio8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible debt</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1347">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--NoncurrentDerivativeFinancialLiabilities_i02I_maLzppq_zs4ejAsMXrP1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Derivative liability</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,804,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1351">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,804,572</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--NoncurrentLeaseLiabilities_i02I_maLzppq_zG3ypeP74iUl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27,693</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1355">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27,693</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Liabilities_i01TI_mtLzppq_maEALzXlV_z8dNuogfgIpl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,929,696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,344,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,274,494</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--EquityAbstract_i01B_zMI2GpExYiwk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stockholders’ deficiency:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--AdditionalPaidinCapital_i02I_maEzjbb_zfoXxoFi3fb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additional paid in capital</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,508,468</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(27,508,468</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1368">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--IssuedCapital_i02I_maEzjbb_zL3csYA2Tyk2" style="vertical-align: bottom; background-color: White"> <td>Share capital</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,253</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,331,369</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,332,622</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--StockSubscriptionsAndStockToBeIssued_i02I_maEzjbb_zVeqjDTsVCk9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock subscriptions and stock to be issued</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,342</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1375">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,342</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--OtherEquityInterest_i02I_maEzjbb_zXMvzwflHzS3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Notes and amounts receivable for equity issued</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--OtherReserves_i02I_maEzjbb_zppswX8ia0zb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant and option reserve</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1382">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,177,099</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,177,099</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--SharesToBeCancelled_i02I_maEzjbb_zkrpdmOZZNm9" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shares to be cancelled</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ObligationToIssueShares_i02I_maEzjbb_znoT05JSJlcf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Obligation to issue shares</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"></td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--AccumulatedOtherComprehensiveIncome_i02I_maEzjbb_zusLzEV0ieRh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated other comprehensive loss</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(490,172</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1395">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(490,172</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eifrs-full--RetainedEarnings_i02I_maEzjbb_zEPM8nlXh5Jl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated deficit</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(28,477,326</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,344,798</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(33,822,124</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eifrs-full--Equity_i02TI_pp0p0_mtEzjbb_maEALzXlV_z92jCZ9Kuxw8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total stockholders’ deficiency</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,442,435</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,344,798</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,787,233</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--EquityAndLiabilities_i01TI_pp0p0_mtEALzXlV_zYhTIelQmfm4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities and stockholders’ deficiency</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1407">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reconciliation of financial position as at December 31, 2021 </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <table cellpadding="0" cellspacing="0" id="xdx_30C_134_zWpw1Mw0Y5If" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Reconciliation of Financial Position (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zfu5Yt3oROSh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US GAAP<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_z2JCZudg7fu1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Restatement (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_z8o59hQycb4c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Effect of Transition <br/> to IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20211231__ifrs-full--InitiallyAppliedIFRSsAxis__custom--IFRSMember_zShYHIh559Vf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eifrs-full--AssetsAbstract_iB_zujbl2i5HEvl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--CurrentAssetsAbstract_i01B_z9sH3V6IR7Fl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current assets:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CashAndCashEquivalents_i02I_maCAzNUz_zCUPQpyjEe0l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 11%"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,026,990</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1421">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1422">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,026,990</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--CurrentTradeReceivables_i02I_maCAzNUz_zujtACAH48Ij" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts receivable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">709,805</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1426">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1427">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">709,805</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--CurrentPrepaymentsAndOtherCurrentAssets_i02I_maCAzNUz_zbJMTsJkkWO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prepaid expenses and deposits</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95,503</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1431">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1432">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95,503</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--CurrentAssets_i02TI_mtCAzNUz_maAz2Su_zQBYIEGQFmtj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total current assets</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,832,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1436">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1437">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,832,298</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OilAndGasPropertiesNet_i02I_maAz2Su_zMsA8BxHAvd1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Oil and gas properties, net</td><td> </td> <td style="text-align: center">1,2,5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,172,943</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1441">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,752,330</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,420,613</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--IntangibleExplorationAndEvaluationAssets_i02I_maAz2Su_zDMetP8Q172a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Exploration and evaluation assets</td><td> </td> <td style="text-align: center">1</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1445">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1446">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,116,146</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,116,146</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--PropertyPlantAndEquipment_i01I_maAz2Su_zCJX8Dec7xoi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">147,134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1451">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1452">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">147,134</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--RestrictedCashAndCashEquivalents_i01I_maAz2Su_zMYTDOxu7fZ5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,438</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1456">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1457">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,438</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Assets_i01TI_mtAz2Su_z7ESL9wSgKW3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,157,813</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1461">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(636,184</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,521,629</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zUYp8fru2B0h" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">LIABILITIES AND STOCKHOLDERS’ EQUITY</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zg3pQjiXwoAf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--TradeAndOtherCurrentPayables_i02I_maCLzxG6_zfQ3Ixx6r4Wf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable and accrued liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">852,481</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1476">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1477">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">852,481</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--ShorttermBorrowings_i02I_maCLzxG6_z1bPBAtypGdc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630,534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1481">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1482">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630,534</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--CurrentLeaseLiabilities_i02I_maCLzxG6_zGRPHHrq4w8h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,732</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1486">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1487">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,732</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CurrentLiabilities_i02TI_mtCLzxG6_maLzppq_zLQpRIFRTkq2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total current liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,489,747</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1491">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1492">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,489,747</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AssetRetirementObligations_i02I_maLzppq_zbGMSyHfUrz" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Asset retirement obligation</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,426,978</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1496">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,566,130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,993,108</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--LongtermBorrowings_i02I_maLzppq_zW8QTh8GZLR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,513</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1501">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1502">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,513</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--NoncurrentDerivativeFinancialLiabilities_i02I_maLzppq_ztAnXCqhfcBi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Derivative liability</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">472,899</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1506">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1507">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">472,899</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--NoncurrentLeaseLiabilities_i02I_maLzppq_zdzDU54jaug5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,592</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1511">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1512">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,592</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Liabilities_i01TI_mtLzppq_maEALzXlV_zBiBm5kchEDh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,416,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1516">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,566,130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,982,859</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--EquityAbstract_i01B_zU90McQexMhk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stockholders’ equity (deficiency):</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--AdditionalPaidinCapital_i02I_maEzjbb_zt3rRkScnz5h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital</td><td> </td> <td style="text-align: center">3,4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,295,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,064,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,359,813</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1528">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--IssuedCapital_i02I_maEzjbb_zDYM07iHMlp2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Share capital</td><td> </td> <td style="text-align: center">3,4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,828</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1531">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,115,302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,117,130</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--OtherEquityInterest_i02I_maEzjbb_zpd82oAXh3c7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Notes and amounts receivable for equity issued</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,193,641</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1536">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1537">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,193,641</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eifrs-full--OtherReserves_i02I_maEzjbb_zzF1c6CEXCR3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrant and option reserve</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1540">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1541">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,165,170</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,165,170</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--SharesToBeCancelled_i02I_maEzjbb_zz3UxneKVZz7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Shares to be cancelled</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1546">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1547">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,323</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ObligationToIssueShares_i02I_maEzjbb_zdxoShNZN604" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Obligation to issue Shares</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1551">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1552">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,450</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--AccumulatedOtherComprehensiveIncome_i02I_maEzjbb_zHG58Edcqlpl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated other comprehensive loss</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(847,412</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1556">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1557">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(847,412</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eifrs-full--RetainedEarnings_i02I_maEzjbb_zQDopO6Jgdtl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accumulated deficit</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(30,527,877</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,122,973</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(38,715,250</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eifrs-full--Equity_i02TI_pp0p0_mtEzjbb_maEALzXlV_zNViKh444bS2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total stockholders’ equity (deficiency)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">741,084</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1566">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,202,314</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,461,230</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--EquityAndLiabilities_i01TI_pp0p0_mtEALzXlV_zWZGt3W0Tave" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities and stockholders’ equity (deficiency)</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,157,813</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1571">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(636,184</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,521,629</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reconciliation of operation results for the year ended December 31, 2021 </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_306_134_zpemPLKOWRi1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Reconciliation of Operation (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zhUJw8MAAczc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US GAAP<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zC2Bc1lIrbZe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Restatement<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zEcmW10UGKHh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Effect of Transition <br/> to IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20210101__20211231__ifrs-full--InitiallyAppliedIFRSsAxis__custom--IFRSMember_zk6wb6wxDMZ1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eifrs-full--RevenueAbstract_iB_zjEGnnbAu0kc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--RevenueFromSaleOfOilAndGasProducts_i01_znuxr1CjpXJ1" style="vertical-align: bottom; background-color: White"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">Oil and natural gas sales</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 11%; text-align: center; padding-bottom: 1pt"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right">3,700,727</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1581">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1582">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right">3,700,727</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--CostAndExpensesAbstract_iB_zqI6xGQE26Pb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cost and expenses</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--Production_i01_zlORnT1YKbt8" style="vertical-align: bottom; background-color: White"> <td>Production</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,617,118</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1591">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1592">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,617,118</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DepletionExpense_i01_zpjAzwHfXjAk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depletion</td><td> </td> <td style="text-align: center">5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">233,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1596">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181,888</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">415,686</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--DepreciationExpense_i01_zy5kdxLIMa0e" style="vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1601">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1602">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,768</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccretionOfAssetRetirementObligation_i01_zsYoyeoYDNO" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">416,354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1606">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(324,371</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,983</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--InvestorRelations_i01_zke6xi77xi81" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investor relations</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">914,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1611">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1612">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">914,770</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_i01_zUcMXo5ggs3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock based compensation</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,366</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1616">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1617">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,366</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--GeneralAndAdministrativeExpense_i01_zXM0xDBO2J6h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,248,164</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1621">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1622">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,248,164</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--ExpenseByNature_i01T_zJ0oZoPGMeGk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total expenses</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,798,338</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1626">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(142,483</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,655,855</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--ProfitLossBeforeTax_iT_zgPTfY25zeBi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Loss before other income (expenses)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,097,611</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1631">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">142,483</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,955,128</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--ExpenseByNatureAbstract_iB_zgoWMlc2R3gl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expenses)</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--RevenueFromInterest_i01_zbHoPEEcZeK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest income</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1641">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1642">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,217</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--InterestExpense_i01N_di_zvB8sei9Pa3b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,027</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1646">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1647">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,027</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eifrs-full--FinanceCosts_i01N_di_zQv7Qzzww62" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance cost</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(176,386</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1651">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1652">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(176,386</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eifrs-full--GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_i01_pp0p0_zXC6dPKUSgL1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign exchange loss</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1656">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1657">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,669</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--GainLossOnExtinguishmentAccountsPayable_i01_zdCHRJpuhgJd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on debt extinguishment</td><td> </td> <td style="text-align: center">4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(238,724</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1661">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79,341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(159,383</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eifrs-full--GainsLossesOnChangeInFairValueOfDerivatives_i01_zcxkEIwi3tJ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of derivative liability</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,473,638</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,064,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1667">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,590,762</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eifrs-full--GainsOnDisposalsOfPropertyPlantAndEquipment_i01_zlZjZMfqgfl1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on disposal of equipment</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,074</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1671">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1672">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,074</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--OtherIncomeExpense_i01_zQ1ao5I0w3C3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other expense</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,600</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1676">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1677">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,600</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--OtherOperatingIncomeExpense_i01T_zCaegKUrG2W3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total other income (expenses)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,047,061</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">79,341</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,937,998</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eifrs-full--ProfitLoss_iT_zYMUL1s6JrTc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,050,550</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">221,824</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,893,126</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Loss per share</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_904_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_z8Nh7ESvkha" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_905_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_z9vKJHyXxoug" title="Loss per share - diluted">(0.06</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_900_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zNdx3DE5LRu4" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_904_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zaQEXWrpGIEf" title="Loss per share - diluted">(0.10</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_903_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zhtaKV7PhWsf" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_90A_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zRzZnk7B9H5f" title="Loss per share - diluted">0.01</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_909_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231_zFtmM2AIAS46" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_90F_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231_zkKPonRPiwrc" title="Loss per share - diluted">(0.15</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average number of shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_904_eifrs-full--WeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zXlcNZqLrKsb" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_90D_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zjJ7zKq44Wl8" title="Weighted average shares outstanding - diluted">31,633,222</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_903_eifrs-full--WeightedAverageShares_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_z8BcCaeKjtNg" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_902_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zatGtG9gMEH7" title="Weighted average shares outstanding - diluted"><span style="-sec-ix-hidden: xdx2ixbrl1710"><span style="-sec-ix-hidden: xdx2ixbrl1712">-</span></span></span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_909_eifrs-full--WeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zWRbzMqZNw4l" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_902_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zYGEPUdZ3Kz8" title="Weighted average shares outstanding - diluted"><span style="-sec-ix-hidden: xdx2ixbrl1714"><span style="-sec-ix-hidden: xdx2ixbrl1716">-</span></span></span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_909_eifrs-full--WeightedAverageShares_c20210101__20211231_zJkced73SxVg" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_907_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231_z4kUMGMpLDO2" title="Weighted average shares outstanding - diluted">31,633,222</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--OtherComprehensiveIncomeAbstract_iB_zjZdsRQNjenj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other comprehensive loss</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_i01_z8uPyiKiUJXe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(357,240</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1728">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1729">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(357,240</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eifrs-full--ComprehensiveIncome_i01T_z3ckxPz0saal" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Comprehensive loss</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,407,790</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">221,824</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,250,366</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> <p id="xdx_8A9_zw7CodhZdD3f" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Notes to the reconciliations</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The reconciling items between US GAAP and IFRS presentation have no significant effect on the cash flows generated. Therefore, a reconciliation of cash flows has not been presented above.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets (“E&amp;E assets”)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An adjustment has been made to reclassify the presentation of the Company’s Bulgarian property as exploration and evaluation assets as it is not a property under development or production, in accordance with IFRS.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset retirement obligation</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under US GAAP, the ARO was discounted at a rate of <span id="xdx_90F_ecustom--DiscountRate_pid_dp_c20210101__20211231_zEPPZsIQGqKf" title="Discount rate">10</span>%, as prescribed by the U.S. Securities and Exchange Commission. Under IFRS, the discount rate used is the risk-free rate in effect at the end of each reporting period for the risk-adjusted cash flows. The change in the decommissioning obligation each period as a result of changes in the discount rate will result in an offsetting charge to oil and gas properties. Upon the Company’s transition to IFRS, the impact of this change was a $<span id="xdx_90A_ecustom--IncreaseInAssetRetirementObligations_iI_c20210101_zzTRsRNsSJt1" title="Increase in asset retirement obligation">5,344,798</span> increase in the ARO with a corresponding increase to the deficit on the consolidated statement of financial position, using an average risk-free rate of <span id="xdx_90A_ecustom--RiskFreeRate_iI_pid_dp_c20210101_zKUISCFi5JB4" title="Risk free rate">0.93</span>% as at January 1, 2021. As at December 31, 2021, the average risk-free rate was reassessed to be <span id="xdx_902_ecustom--RiskFreeRate_iI_pid_dp_c20211231_zBuQCT1IqKgb" title="Risk free rate">1.49</span>% and the impact was a $<span id="xdx_907_ecustom--IncreaseInAssetRetirementObligations_iI_c20211231_zRs9nqLoUsIk" title="Increase in asset retirement obligation">4,566,130</span> increase in the ARO.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the change in discount rate, the ARO accretion expense decreased by $<span id="xdx_906_ecustom--AccretionOfAssetRetirementObligation_iN_di_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zHJtiJkryTO4" title="Asset retirement obligation accretion expense">324,371</span> during the year ended December 31, 2021, due to the lower discount rate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Option reserve and share premium</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under US GAAP, share-based payments were presented as additional paid-in capital. Upon transition to IFRS, a reclassification adjustment has been made to separately present the amount related to share-based compensation of $<span id="xdx_90F_eifrs-full--OtherReserves_iI_c20210101_zN91buG2ABD1" title="Option reserve and share premium">1,177,099</span> as at January 1, 2021. The remaining additional paid-in capital has been reclassified to share capital. The reclassification adjustment as at December 31, 2021 was $<span id="xdx_906_ecustom--ReclassificationAdjustment_iI_c20211231_zeAN0PRuUf7" title="Reclassification adjustment">1,040,779</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss on convertible debt extinguishment</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under US GAAP, when conversion features have been bifurcated from the conversion debt host and accounted for as liabilities, no equity conversion feature remains in the debt instrument. The liabilities for the debt and the conversion feature are extinguished in exchange for common shares, the difference between the carrying value of the liabilities and the fair value of the common shares ae recorded as a gain or loss. IFRS requires the entity to derecognize the liability component and recognize it as equity on conversion of a convertible instrument and no gain or loss is recognized. As a result of the difference between the two accounting standards, for the year ended December 31, 2021, the loss on debt extinguishment decreased by $<span id="xdx_903_ecustom--GainLossOnExtinguishmentAccountsPayable_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_z89KptqNJjgi" title="Loss on debt extinguishment">79,341</span>, with an offsetting charge to equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depletion</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is depleting its oil and gas properties over the proved reserves. IFRS requires an entity to include the estimated future costs to develop the reserves in the calculation of depletion. The calculation of depletion under US GAAP did not include the estimated future development costs as the Company applied Electronic Code of Federal Regulation Title 17 Section 210.4-1, Financial accounting and reporting for oil and gas producing activities pursuant to the Federal securities laws and the Energy Policy and Conservation Act of 1975, to exclude the estimated future expenditures associated with a major development. As a result, oil and gas properties, net, increased by $<span id="xdx_90D_ecustom--IncreaseInOilAndGasProperties_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zs5eJccbUN22" title="Increase in oil and gas properties">181,888</span> as at December 31, 2021. For the year ended December 31, 2021, the depletion charge included in the consolidated statements of loss and comprehensive loss, increased by $<span id="xdx_909_ecustom--DepletionExpense_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zdwg64klQ1Td" title="Depletion charge">181,888</span>.</span></p> <p id="xdx_89F_ecustom--DisclosureOfDetailedInformationAboutReconciliationOfFinancialPositionAndOperationExplanatory_zWBaUzrSjOme" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reconciliation of financial position as at January 1, 2021 (date of transition to IFRS)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span><span id="xdx_8B4_zu4733oiEsO6" style="display: none">Schedule of Reconciliation of Financial Position and Operation</span></p> <table cellpadding="0" cellspacing="0" id="xdx_300_134_zcwGNTgIivr5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Reconciliation of Financial Position (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20210101__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zgiVyVmcfXqg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US GAAP<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20210101__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zqC97zo32IGf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Effect of Transition <br/> to IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20210101__ifrs-full--InitiallyAppliedIFRSsAxis__custom--IFRSMember_zL5eNjosPDB1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eifrs-full--AssetsAbstract_iB_zrNjvvJAEGK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--CurrentAssetsAbstract_i01B_zE0q3uYBPYKd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current assets:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CashAndCashEquivalents_i02I_maCAzNUz_zbFb8hV7gyn1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 12%"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">202,712</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1279">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">202,712</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--CurrentTradeReceivables_i02I_maCAzNUz_zMGKBeO5rtu7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Account receivables</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">773,311</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1283">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">773,311</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--CurrentPrepaymentsAndOtherCurrentAssets_i02I_maCAzNUz_zkhrMwByhLu6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prepaid expenses and deposits</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,302</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1287">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,302</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--CurrentAssets_i02TI_mtCAzNUz_maAz2Su_zrprRgef9fa7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total current assets</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000,325</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1291">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000,325</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OilAndGasPropertiesNet_i02I_maAz2Su_zl2Cy9Kz0FC7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Oil and gas properties, net</td><td> </td> <td style="text-align: center">1,2,5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,346,916</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,122,443</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,224,473</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--IntangibleExplorationAndEvaluationAssets_i02I_maAz2Su_zem7t30zeLZh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Exploration and evaluation assets</td><td> </td> <td style="text-align: center">1</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1298">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,122,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,122,443</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--PropertyPlantAndEquipment_i01I_maAz2Su_znMSauN59iKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128,257</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1303">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128,257</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--RestrictedCashAndCashEquivalents_i01I_maAz2Su_zxzkVuthMAM" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,763</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1307">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,763</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Assets_i01TI_mtAz2Su_zv3nyoMN3v1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1311">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zCwIE28XCdC8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">LIABILITIES AND STOCKHOLDERS’ EQUITY</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zbJmyRjiLnV6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--TradeAndOtherCurrentPayables_i02I_maCLzxG6_ziqVHTFsYSsl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable and accrued liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,496,510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1323">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,496,510</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--ShorttermBorrowings_i02I_maCLzxG6_zAtuc0Y1A18l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable - current</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">549,424</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1327">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">549,424</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--CurrentLeaseLiabilities_i02I_maCLzxG6_z0xYlrAdTx" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liability - current</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,116</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1331">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,116</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CurrentLiabilities_i02TI_mtCLzxG6_maLzppq_zKSbAzaMIEo2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total current liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,058,050</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1335">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,058,050</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AssetRetirementObligations_i02I_maLzppq_z0VMFgL6dhle" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Asset retirement obligation</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,010,624</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,344,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,355,422</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--LongtermBorrowings_i02I_maLzppq_zFGHN2UTqzMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,730</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1343">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,730</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LongTermConvertibleDebt_i02I_maLzppq_zROc4UksJio8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible debt</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1347">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--NoncurrentDerivativeFinancialLiabilities_i02I_maLzppq_zs4ejAsMXrP1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Derivative liability</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,804,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1351">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,804,572</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--NoncurrentLeaseLiabilities_i02I_maLzppq_zG3ypeP74iUl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27,693</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1355">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27,693</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Liabilities_i01TI_mtLzppq_maEALzXlV_z8dNuogfgIpl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,929,696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,344,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,274,494</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--EquityAbstract_i01B_zMI2GpExYiwk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stockholders’ deficiency:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--AdditionalPaidinCapital_i02I_maEzjbb_zfoXxoFi3fb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additional paid in capital</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,508,468</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(27,508,468</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1368">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--IssuedCapital_i02I_maEzjbb_zL3csYA2Tyk2" style="vertical-align: bottom; background-color: White"> <td>Share capital</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,253</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,331,369</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,332,622</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--StockSubscriptionsAndStockToBeIssued_i02I_maEzjbb_zVeqjDTsVCk9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock subscriptions and stock to be issued</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,342</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1375">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,342</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--OtherEquityInterest_i02I_maEzjbb_zXMvzwflHzS3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Notes and amounts receivable for equity issued</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--OtherReserves_i02I_maEzjbb_zppswX8ia0zb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant and option reserve</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1382">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,177,099</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,177,099</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--SharesToBeCancelled_i02I_maEzjbb_zkrpdmOZZNm9" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shares to be cancelled</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ObligationToIssueShares_i02I_maEzjbb_znoT05JSJlcf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Obligation to issue shares</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"></td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--AccumulatedOtherComprehensiveIncome_i02I_maEzjbb_zusLzEV0ieRh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated other comprehensive loss</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(490,172</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1395">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(490,172</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eifrs-full--RetainedEarnings_i02I_maEzjbb_zEPM8nlXh5Jl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated deficit</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(28,477,326</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,344,798</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(33,822,124</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eifrs-full--Equity_i02TI_pp0p0_mtEzjbb_maEALzXlV_z92jCZ9Kuxw8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total stockholders’ deficiency</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,442,435</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,344,798</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,787,233</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--EquityAndLiabilities_i01TI_pp0p0_mtEALzXlV_zYhTIelQmfm4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities and stockholders’ deficiency</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1407">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,487,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reconciliation of financial position as at December 31, 2021 </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <table cellpadding="0" cellspacing="0" id="xdx_30C_134_zWpw1Mw0Y5If" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Reconciliation of Financial Position (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zfu5Yt3oROSh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US GAAP<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_z2JCZudg7fu1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Restatement (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_z8o59hQycb4c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Effect of Transition <br/> to IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20211231__ifrs-full--InitiallyAppliedIFRSsAxis__custom--IFRSMember_zShYHIh559Vf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eifrs-full--AssetsAbstract_iB_zujbl2i5HEvl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--CurrentAssetsAbstract_i01B_z9sH3V6IR7Fl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current assets:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CashAndCashEquivalents_i02I_maCAzNUz_zCUPQpyjEe0l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 11%"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,026,990</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1421">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1422">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,026,990</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--CurrentTradeReceivables_i02I_maCAzNUz_zujtACAH48Ij" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts receivable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">709,805</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1426">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1427">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">709,805</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--CurrentPrepaymentsAndOtherCurrentAssets_i02I_maCAzNUz_zbJMTsJkkWO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prepaid expenses and deposits</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95,503</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1431">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1432">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95,503</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--CurrentAssets_i02TI_mtCAzNUz_maAz2Su_zQBYIEGQFmtj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total current assets</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,832,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1436">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1437">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,832,298</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OilAndGasPropertiesNet_i02I_maAz2Su_zMsA8BxHAvd1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Oil and gas properties, net</td><td> </td> <td style="text-align: center">1,2,5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,172,943</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1441">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,752,330</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,420,613</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--IntangibleExplorationAndEvaluationAssets_i02I_maAz2Su_zDMetP8Q172a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Exploration and evaluation assets</td><td> </td> <td style="text-align: center">1</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1445">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1446">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,116,146</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,116,146</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--PropertyPlantAndEquipment_i01I_maAz2Su_zCJX8Dec7xoi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">147,134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1451">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1452">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">147,134</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--RestrictedCashAndCashEquivalents_i01I_maAz2Su_zMYTDOxu7fZ5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,438</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1456">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1457">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,438</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Assets_i01TI_mtAz2Su_z7ESL9wSgKW3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,157,813</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1461">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(636,184</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,521,629</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zUYp8fru2B0h" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">LIABILITIES AND STOCKHOLDERS’ EQUITY</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--EquityAndLiabilitiesAbstract_i01B_pp0p0_zg3pQjiXwoAf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--TradeAndOtherCurrentPayables_i02I_maCLzxG6_zfQ3Ixx6r4Wf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable and accrued liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">852,481</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1476">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1477">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">852,481</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--ShorttermBorrowings_i02I_maCLzxG6_z1bPBAtypGdc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630,534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1481">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1482">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630,534</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--CurrentLeaseLiabilities_i02I_maCLzxG6_zGRPHHrq4w8h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,732</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1486">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1487">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,732</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CurrentLiabilities_i02TI_mtCLzxG6_maLzppq_zLQpRIFRTkq2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total current liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,489,747</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1491">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1492">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,489,747</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AssetRetirementObligations_i02I_maLzppq_zbGMSyHfUrz" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Asset retirement obligation</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,426,978</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1496">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,566,130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,993,108</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--LongtermBorrowings_i02I_maLzppq_zW8QTh8GZLR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans payable</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,513</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1501">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1502">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,513</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--NoncurrentDerivativeFinancialLiabilities_i02I_maLzppq_ztAnXCqhfcBi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Derivative liability</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">472,899</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1506">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1507">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">472,899</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--NoncurrentLeaseLiabilities_i02I_maLzppq_zdzDU54jaug5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,592</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1511">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1512">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,592</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Liabilities_i01TI_mtLzppq_maEALzXlV_zBiBm5kchEDh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total liabilities</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,416,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1516">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,566,130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,982,859</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--EquityAbstract_i01B_zU90McQexMhk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stockholders’ equity (deficiency):</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--AdditionalPaidinCapital_i02I_maEzjbb_zt3rRkScnz5h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital</td><td> </td> <td style="text-align: center">3,4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,295,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,064,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,359,813</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1528">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--IssuedCapital_i02I_maEzjbb_zDYM07iHMlp2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Share capital</td><td> </td> <td style="text-align: center">3,4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,828</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1531">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,115,302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,117,130</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--OtherEquityInterest_i02I_maEzjbb_zpd82oAXh3c7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Notes and amounts receivable for equity issued</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,193,641</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1536">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1537">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,193,641</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eifrs-full--OtherReserves_i02I_maEzjbb_zzF1c6CEXCR3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrant and option reserve</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1540">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1541">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,165,170</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,165,170</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--SharesToBeCancelled_i02I_maEzjbb_zz3UxneKVZz7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Shares to be cancelled</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1546">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1547">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,323</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ObligationToIssueShares_i02I_maEzjbb_zdxoShNZN604" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Obligation to issue Shares</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1551">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1552">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,450</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--AccumulatedOtherComprehensiveIncome_i02I_maEzjbb_zHG58Edcqlpl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated other comprehensive loss</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(847,412</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1556">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1557">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(847,412</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eifrs-full--RetainedEarnings_i02I_maEzjbb_zQDopO6Jgdtl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accumulated deficit</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(30,527,877</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,122,973</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(38,715,250</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eifrs-full--Equity_i02TI_pp0p0_mtEzjbb_maEALzXlV_zNViKh444bS2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total stockholders’ equity (deficiency)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">741,084</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1566">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,202,314</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,461,230</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--EquityAndLiabilities_i01TI_pp0p0_mtEALzXlV_zWZGt3W0Tave" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities and stockholders’ equity (deficiency)</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,157,813</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1571">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(636,184</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,521,629</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022 and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reconciliation of operation results for the year ended December 31, 2021 </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_306_134_zpemPLKOWRi1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Reconciliation of Operation (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zhUJw8MAAczc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">US GAAP<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zC2Bc1lIrbZe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Restatement<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zEcmW10UGKHh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Effect of Transition <br/> to IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20210101__20211231__ifrs-full--InitiallyAppliedIFRSsAxis__custom--IFRSMember_zk6wb6wxDMZ1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">IFRS<br/> (Note 27)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eifrs-full--RevenueAbstract_iB_zjEGnnbAu0kc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--RevenueFromSaleOfOilAndGasProducts_i01_znuxr1CjpXJ1" style="vertical-align: bottom; background-color: White"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">Oil and natural gas sales</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 11%; text-align: center; padding-bottom: 1pt"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right">3,700,727</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1581">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1582">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 9%; text-align: right">3,700,727</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--CostAndExpensesAbstract_iB_zqI6xGQE26Pb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cost and expenses</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--Production_i01_zlORnT1YKbt8" style="vertical-align: bottom; background-color: White"> <td>Production</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,617,118</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1591">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1592">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,617,118</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DepletionExpense_i01_zpjAzwHfXjAk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depletion</td><td> </td> <td style="text-align: center">5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">233,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1596">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181,888</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">415,686</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--DepreciationExpense_i01_zy5kdxLIMa0e" style="vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1601">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1602">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,768</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccretionOfAssetRetirementObligation_i01_zsYoyeoYDNO" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">416,354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1606">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(324,371</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,983</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--InvestorRelations_i01_zke6xi77xi81" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investor relations</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">914,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1611">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1612">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">914,770</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_i01_zUcMXo5ggs3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock based compensation</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,366</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1616">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1617">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,366</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--GeneralAndAdministrativeExpense_i01_zXM0xDBO2J6h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,248,164</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1621">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1622">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,248,164</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--ExpenseByNature_i01T_zJ0oZoPGMeGk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total expenses</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,798,338</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1626">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(142,483</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,655,855</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--ProfitLossBeforeTax_iT_zgPTfY25zeBi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Loss before other income (expenses)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,097,611</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1631">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">142,483</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,955,128</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--ExpenseByNatureAbstract_iB_zgoWMlc2R3gl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expenses)</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--RevenueFromInterest_i01_zbHoPEEcZeK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest income</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1641">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1642">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,217</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--InterestExpense_i01N_di_zvB8sei9Pa3b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,027</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1646">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1647">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,027</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eifrs-full--FinanceCosts_i01N_di_zQv7Qzzww62" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance cost</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(176,386</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1651">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1652">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(176,386</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eifrs-full--GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_i01_pp0p0_zXC6dPKUSgL1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign exchange loss</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1656">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1657">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,669</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--GainLossOnExtinguishmentAccountsPayable_i01_zdCHRJpuhgJd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on debt extinguishment</td><td> </td> <td style="text-align: center">4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(238,724</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1661">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79,341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(159,383</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eifrs-full--GainsLossesOnChangeInFairValueOfDerivatives_i01_zcxkEIwi3tJ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of derivative liability</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,473,638</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,064,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1667">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,590,762</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eifrs-full--GainsOnDisposalsOfPropertyPlantAndEquipment_i01_zlZjZMfqgfl1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on disposal of equipment</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,074</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1671">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1672">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,074</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--OtherIncomeExpense_i01_zQ1ao5I0w3C3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other expense</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,600</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1676">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1677">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,600</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--OtherOperatingIncomeExpense_i01T_zCaegKUrG2W3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total other income (expenses)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,047,061</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">79,341</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,937,998</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eifrs-full--ProfitLoss_iT_zYMUL1s6JrTc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,050,550</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">221,824</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,893,126</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Loss per share</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_904_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_z8Nh7ESvkha" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_905_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_z9vKJHyXxoug" title="Loss per share - diluted">(0.06</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_900_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zNdx3DE5LRu4" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_904_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zaQEXWrpGIEf" title="Loss per share - diluted">(0.10</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_903_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zhtaKV7PhWsf" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_90A_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zRzZnk7B9H5f" title="Loss per share - diluted">0.01</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_909_eifrs-full--BasicEarningsLossPerShare_c20210101__20211231_zFtmM2AIAS46" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_90F_eifrs-full--DilutedEarningsLossPerShare_c20210101__20211231_zkKPonRPiwrc" title="Loss per share - diluted">(0.15</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average number of shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_904_eifrs-full--WeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zXlcNZqLrKsb" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_90D_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--PreviousGAAPMember_zjJ7zKq44Wl8" title="Weighted average shares outstanding - diluted">31,633,222</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_903_eifrs-full--WeightedAverageShares_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_z8BcCaeKjtNg" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_902_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestatementMember_zatGtG9gMEH7" title="Weighted average shares outstanding - diluted"><span style="-sec-ix-hidden: xdx2ixbrl1710"><span style="-sec-ix-hidden: xdx2ixbrl1712">-</span></span></span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_909_eifrs-full--WeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zWRbzMqZNw4l" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_902_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__ifrs-full--EffectOfTransitionToIFRSsMember_zYGEPUdZ3Kz8" title="Weighted average shares outstanding - diluted"><span style="-sec-ix-hidden: xdx2ixbrl1714"><span style="-sec-ix-hidden: xdx2ixbrl1716">-</span></span></span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_909_eifrs-full--WeightedAverageShares_c20210101__20211231_zJkced73SxVg" title="Weighted average shares outstanding - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY29uY2lsaWF0aW9uIG9mIE9wZXJhdGlvbiAoRGV0YWlscykA" id="xdx_907_eifrs-full--AdjustedWeightedAverageShares_c20210101__20211231_z4kUMGMpLDO2" title="Weighted average shares outstanding - diluted">31,633,222</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--OtherComprehensiveIncomeAbstract_iB_zjZdsRQNjenj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other comprehensive loss</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_i01_z8uPyiKiUJXe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(357,240</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1728">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1729">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(357,240</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eifrs-full--ComprehensiveIncome_i01T_z3ckxPz0saal" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Comprehensive loss</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,407,790</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">221,824</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,250,366</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> 202712 202712 773311 773311 24302 24302 1000325 1000325 5346916 -3122443 2224473 3122443 3122443 128257 128257 11763 11763 6487261 6487261 1496510 1496510 549424 549424 12116 12116 2058050 2058050 4010624 5344798 9355422 17730 17730 11027 11027 1804572 1804572 27693 27693 7929696 5344798 13274494 27508468 -27508468 1253 26331369 26332622 15342 15342 1177099 1177099 -490172 -490172 -28477326 -5344798 -33822124 -1442435 -5344798 -6787233 6487261 6487261 1026990 1026990 709805 709805 95503 95503 1832298 1832298 5172943 -3752330 1420613 3116146 3116146 147134 147134 5438 5438 7157813 -636184 6521629 852481 852481 630534 630534 6732 6732 1489747 1489747 4426978 4566130 8993108 18513 18513 472899 472899 8592 8592 6416729 4566130 10982859 33295413 3064400 -36359813 1828 35115302 35117130 -1193641 -1193641 1165170 1165170 5323 5323 7450 7450 -847412 -847412 -30527877 -3064400 -5122973 -38715250 741084 -5202314 -4461230 7157813 -636184 6521629 3700727 3700727 2617118 2617118 233798 181888 415686 31768 31768 416354 -324371 91983 914770 914770 336366 336366 2248164 2248164 6798338 -142483 6655855 -3097611 142483 -2955128 46217 46217 126027 126027 176386 176386 25669 25669 -238724 79341 -159383 1473638 -3064400 -1590762 40074 40074 2600 2600 1047061 -3064400 79341 -1937998 -2050550 -3064400 221824 -4893126 -0.06 -0.06 -0.10 -0.10 0.01 0.01 -0.15 -0.15 31633222 31633222 31633222 31633222 -357240 -357240 -2407790 -3064400 221824 -5250366 0.10 5344798 0.0093 0.0149 4566130 -324371 1177099 1040779 79341 181888 181888 <p id="xdx_808_ecustom--DisclosureOfAmountsReceivableExplanatory_zlTdOagDQnVc" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_828_z7anQZNPp6R6">Amounts Receivable</span> </b></span></p> <p id="xdx_892_ecustom--DisclosureOfDetailedInformationAboutAmountsReceivableExplanatory_zZtSpkvtfcI6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_z8VhdgS8YUFc" style="display: none">Schedule of Amounts Receivable</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20231231_z1ElTcuvB7sg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20221231_z5XfXjgt7vhb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20211231_zejqtNhbcNe6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_ecustom--AccountsReceivableCurrent_iI_maCTRzTB7_z8kBHdLykrhl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Accounts receivable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">1,403,781</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,207,739</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">703,140</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--GstReceivableCurrent_iI_maCTRzTB7_zPxaAL5l0A8j" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">GST receivable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">46,642</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71,284</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1769">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--CurrentInterestReceivable_iI_maCTRzTB7_zHeaBuI71u6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Interest receivable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">44,339</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1773">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--TradeAndOtherCurrentReceivablesDueFromRelatedParties_iI_maCTRzTB7_zopT5ZuMIDT" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Due from related parties</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">35,295</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,913</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,173</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--OtherCurrentReceivables_iI_maCTRzTB7_zx1EkRao7Fs2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Other</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">63,288</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,351</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,492</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--CurrentTradeReceivables_iTI_mtCTRzTB7_zW0SGRJ9nhYd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif">Amounts receivable</span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,593,345</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">4,337,825</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">709,805</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zAFS4L4S5LP4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_ecustom--DisclosureOfDetailedInformationAboutAmountsReceivableExplanatory_zZtSpkvtfcI6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_z8VhdgS8YUFc" style="display: none">Schedule of Amounts Receivable</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20231231_z1ElTcuvB7sg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20221231_z5XfXjgt7vhb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20211231_zejqtNhbcNe6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_ecustom--AccountsReceivableCurrent_iI_maCTRzTB7_z8kBHdLykrhl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Accounts receivable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">1,403,781</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,207,739</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">703,140</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--GstReceivableCurrent_iI_maCTRzTB7_zPxaAL5l0A8j" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">GST receivable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">46,642</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71,284</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1769">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--CurrentInterestReceivable_iI_maCTRzTB7_zHeaBuI71u6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Interest receivable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">44,339</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1773">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--TradeAndOtherCurrentReceivablesDueFromRelatedParties_iI_maCTRzTB7_zopT5ZuMIDT" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Due from related parties</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">35,295</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,913</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,173</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--OtherCurrentReceivables_iI_maCTRzTB7_zx1EkRao7Fs2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Other</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">63,288</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,351</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,492</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--CurrentTradeReceivables_iTI_mtCTRzTB7_zW0SGRJ9nhYd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif">Amounts receivable</span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,593,345</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">4,337,825</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">709,805</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 1403781 4207739 703140 46642 71284 44339 52538 35295 3913 4173 63288 2351 2492 1593345 4337825 709805 <p id="xdx_80A_eifrs-full--DisclosureOfExpensesExplanatory_z10O7e6ZSUd" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_829_zCtmMb8MXOc8">Prepaid expenses and deposits</span></b></span></p> <p id="xdx_898_ecustom--DisclosureOfPrepaidAssetsAndDepositsExplanatory_zEiDOwehJD44" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BC_zGL5GkktX9i" style="display: none">Schedule of Prepaid Expenses and Deposits</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_z6gdaw2VxvDf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20221231_zTHs1hJUW87h" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20211231_zxdxl3dwggEd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eifrs-full--TangibleExplorationAndEvaluationAssets_iI_maPEADzdYW_za3C7XAwB8m6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Exploration and production advances</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">174,031</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">871,527</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1793">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--CurrentPrepaidExpenses_iI_maPEADzdYW_zu29HBmsIhpa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">426,487</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">83,852</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95,503</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--CurrentPrepaidTaxes_iI_maPEADzdYW_zWj8MLHnFJlc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid taxes</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,917</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,433</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1801">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--CloseoutFund_maPEADzdYW_z4jiohcBfcBb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Close-Out Fund (Note 13)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">371,124</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1804">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1805">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--PrepaidExpensesAndDeposits_iTI_pp0p0_mtPEADzdYW_zQBjje1rKxH4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid expenses and deposits</span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">974,559</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">962,812</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">95,503</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PrepaidExpensesAndDepositsCurrent_iI_zixwFBmL6UC1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expenses and deposits – Current</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">603,435</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">962,812</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">95,503</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--LongtermDeposits_iI_zry96L7mUxFl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Long-term deposits</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">371,124</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1816">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1817">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zOUNG49yjey6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_ecustom--DisclosureOfPrepaidAssetsAndDepositsExplanatory_zEiDOwehJD44" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BC_zGL5GkktX9i" style="display: none">Schedule of Prepaid Expenses and Deposits</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_z6gdaw2VxvDf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20221231_zTHs1hJUW87h" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20211231_zxdxl3dwggEd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eifrs-full--TangibleExplorationAndEvaluationAssets_iI_maPEADzdYW_za3C7XAwB8m6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Exploration and production advances</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">174,031</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">871,527</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1793">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--CurrentPrepaidExpenses_iI_maPEADzdYW_zu29HBmsIhpa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">426,487</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">83,852</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95,503</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--CurrentPrepaidTaxes_iI_maPEADzdYW_zWj8MLHnFJlc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid taxes</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,917</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,433</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1801">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--CloseoutFund_maPEADzdYW_z4jiohcBfcBb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Close-Out Fund (Note 13)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">371,124</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1804">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1805">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--PrepaidExpensesAndDeposits_iTI_pp0p0_mtPEADzdYW_zQBjje1rKxH4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid expenses and deposits</span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">974,559</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">962,812</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">95,503</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PrepaidExpensesAndDepositsCurrent_iI_zixwFBmL6UC1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expenses and deposits – Current</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">603,435</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">962,812</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">95,503</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--LongtermDeposits_iI_zry96L7mUxFl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Long-term deposits</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">371,124</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1816">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1817">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 174031 871527 426487 83852 95503 2917 7433 371124 974559 962812 95503 603435 962812 95503 371124 <p id="xdx_80C_ecustom--DisclosureOfAssetsHeldForSaleExplanatory_zYBPDtySuWSf" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_826_zSbJaLEJWDp4">Assets held for sale</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2023, management committed to a plan to sell left-over field equipment with a carrying amount of $<span id="xdx_902_eifrs-full--InventoriesAtFairValueLessCostsToSell_iI_c20231231_zPtwWalBcxs6" title="Sell left-over field equipment">3,036,216</span>. Accordingly, the equipment is presented as assets held for sale.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment losses of $<span id="xdx_907_eifrs-full--ImpairmentLoss_c20230101__20231231_zUxPKOCDfsNl" title="Impairment losses">1,556,787</span> (2022 - $<span id="xdx_900_eifrs-full--ImpairmentLoss_dxL_c20220101__20221231_z4P9w3zv4qQf" title="Impairment losses::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1825">Nil</span></span>) were recognized for the write-down of the assets held for sale to the lower of its carrying amount and its fair value less costs to sell. As at December 31, 2023, the value of the Company’s assets held for sale are $<span id="xdx_906_ecustom--AssetsHeldForSale_iI_c20231231_zT68hG4ARKV2" title="Assets held for sale">1,479,429</span> (December 31, 2022 - $<span id="xdx_901_ecustom--AssetsHeldForSale_iI_dxL_c20221231_zLye4mbcqsfc" title="Assets held for sale::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1829">Nil</span></span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The non-recurring fair value measurement for the assets held for sale has been categorized as a Level 3 fair value and is based on management’s best estimate of the fair value of similar products in similar conditions in the marketplace. The key inputs used by management to estimate the fair value of the assets-held-for sale is based on offers received from third parties for a large portion of the equipment and extrapolation of the discount to similar items in the assets listing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 3036216 1556787 1479429 <p id="xdx_800_ecustom--DisclosureOfOilAndGasAssetsExplanatory_zf22PFh276ob" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_829_z62W2Vjx9ud2">Oil and Gas Properties</span></b></span></p> <p id="xdx_899_ecustom--DisclosureOfDetailedOilAndGasPropertiesExplanatory_zFgkctU1gjmg" style="font: 10pt Times New Roman, Times, Serif; display: none; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B8_zchgD50I9kP7">Schedule of Oil and Gas Properties</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B0_ifrs-full--GeographicalAreasAxis_custom--SouthAkcakocaSubBasinMember_zj5xbhm37Tfe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SASB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_ifrs-full--GeographicalAreasAxis_custom--CendereMember_zpguqNMKKHY2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cendere</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_z9MmmD3vb8Bg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20210101__20211231_eifrs-full--OilAndGasAssets_iS_zYlj2dir8l7f" style="vertical-align: bottom; background-color: White"> <td style="width: 46%">As at January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,792,155</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,448,180</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,240,335</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AdditionsCost_ztafDFJmPBee" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1840">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,122</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ChangeInAroEstimate_zqkLx34rZiOd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in ARO estimate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(459,601</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,305</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(454,296</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43C_c20220101__20221231_eifrs-full--OilAndGasAssets_iS_zbGksIWTVHw7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,398,676</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,453,485</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,852,161</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AdditionsCost_ziXIZFIuX9bd" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44,369,191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1852">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44,369,191</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--JvContributionCost_zx8dZiJkrz8d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">JV Contribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,656,785</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1856">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,656,785</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--ChangeInAroEstimate_zp6hB5fEP4Y5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in ARO estimate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,865,772</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,562</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,871,334</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--CurrencyTranslationAdjustmentCost_zvd0U9FjooBl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,748,897</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1864">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,748,897</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--ImpactOfHyperinflationCost_zGl6kj3eNxk1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">837,908</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">110,090</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">947,998</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20231231_eifrs-full--OilAndGasAssets_iS_zVvfJHoVvogd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,334,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,558,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,892,334</td><td style="text-align: left"> </td></tr> <tr id="xdx_437_c20230101__20231231_eifrs-full--OilAndGasAssets_iS_zaK6Xw02Ay3g" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost, Beginning Balance</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,334,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,558,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,892,334</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AdditionsCost_zSDYEv9bVzWk" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,381,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1880">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,381,768</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--JvContributionCost_z42o2NUjgqE" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">JV Contribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,623,835</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1884">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,623,835</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--ChangeInAroEstimate_zNZMNJUSlWIb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in ARO estimate and additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">706,159</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">102</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">706,261</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--CurrencyTranslationAdjustmentCost_zWVSwtDBuhij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,696,392</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(948,518</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,644,910</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--ImpactOfHyperinflationCost_zsTnhhx5ETG4" style="vertical-align: bottom; background-color: White"> <td>Impact of hyperinflation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,039,584</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,042,395</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,081,979</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ReclassifiedAsAssetsHeldForSale_iI_zdON6kUwBqJg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Reclassified as assets held for sale (Note 5)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,036,216</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1900">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,036,216</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43D_c20230101__20231231_eifrs-full--OilAndGasAssets_iE_zVkPMKYZlMba" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">59,105,389</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,651,992</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">61,757,381</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43C_c20230101__20231231_eifrs-full--OilAndGasAssets_iE_zSxh1VZRKDf4" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost, Ending Balance</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">59,105,389</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,651,992</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">61,757,381</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Accumulated depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20210101__20211231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zo0yp6U2M859" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at January 1, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">555,201</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,460,661</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,015,862</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DepletionExpenses_ziTcUGDxHkOc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Depletion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">188,446</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">227,240</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">415,686</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_438_c20220101__20221231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zFq7zRBsCAdg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">743,647</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,687,901</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,431,548</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DepletionExpenses_z9W3ZgcxEwl4" style="vertical-align: bottom; background-color: White"> <td>Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263,556</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">187,476</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,451,032</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ImpactOfHyperinflationAccumulatedDepletion_zYbqwEXsUiBi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(34,215</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,825</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(40,040</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_433_c20230101__20231231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zIILAbGuNb0c" style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,972,988</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,869,552</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,842,540</td><td style="text-align: left"> </td></tr> <tr id="xdx_431_c20230101__20231231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zVzNAjbhKuuf" style="display: none; vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated depletion, Beginning Balance</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,972,988</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,869,552</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,842,540</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DepletionExpenses_zXkLHnykJtSg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,038,009</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">81,165</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,119,174</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--AccumulatedDepletionCurrencyTranslationAdjustment_zczLgPEnsfOi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(731,475</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(693,127</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,424,602</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--ImpactOfHyperinflationAccumulatedDepletion_zipYigiCDP36" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">804,164</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">762,005</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,566,169</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_435_c20230101__20231231_ecustom--OilAndGasAssetsAccumulatedepletion_iE_zMq4XKKJALdk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">7,083,686</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,019,595</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,103,281</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43F_c20230101__20231231_ecustom--OilAndGasAssetsAccumulatedepletion_iE_zyD0oyEeJXoj" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated depletion, Ending Balance</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">7,083,686</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,019,595</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,103,281</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Net book value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20220101__20221231_ecustom--OilAndGasAssetsNetBookValue_iS_zFUSZ9j6qPy" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2021</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">655,029</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">765,584</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,420,613</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_439_c20230101__20231231_ecustom--OilAndGasAssetsNetBookValue_iS_zsXLfdlsg1Fe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2022</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">29,361,333</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">688,461</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">30,049,794</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43D_c20230101__20231231_ecustom--OilAndGasAssetsNetBookValue_iS_zwK6YyldwQA2" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net book value, Beginning Balance</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">29,361,333</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">688,461</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">30,049,794</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43F_c20230101__20231231_ecustom--OilAndGasAssetsNetBookValue_iE_zW25oCL9oRke" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1pt">As at December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">52,021,703</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">632,397</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">52,654,100</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_432_c20230101__20231231_ecustom--OilAndGasAssetsNetBookValue_iE_zvfEpWW1Sld3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net book value, Ending Balance</span></span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">52,021,703</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">632,397</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">52,654,100</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zOULS9P0UWof" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cendere oil field</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Cendere onshore oil field, which is located in South East Turkey has a total of 25 wells. The operator of the Cendere Field is Türkiye Petrolleri Anonim Ortaklığı (“TPAO”). The Company’s interest is <span id="xdx_90A_ecustom--InterestPercentageForWells_pid_dp_uPure_c20230101__20231231_zLv7RkxhA2Xc" title="Interest percentage for wells">19.6</span>% for all wells except for wells C-13, C-15 and C-16, for which its interest is <span id="xdx_907_ecustom--InterestPercentageForWells_pid_dp_uPure_c20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--CendereOilFieldMember_zGOvsmzLZ9Yi" title="Interest percentage for wells">9.8</span>%. As at December 31, 2023, the depletion calculation includes future development costs of $<span id="xdx_904_ecustom--DevelopmentCost_c20230101__20231231_zlUid1OFWN7k" title="Development costs">65,000</span> (2022 - $<span id="xdx_908_ecustom--DevelopmentCost_c20220101__20221231_zJgc4fCwG0v1" title="Development costs">65,000</span>) based on the most recent reserve report.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oil and Gas Properties (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>The South Akcakoca Sub-Basin (“SASB”)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company owns offshore production licenses called the South Akcakoca Sub-Basin (“SASB”). The Company owns a <span id="xdx_90E_ecustom--WorkingInterestPercentage_pid_dp_uPure_c20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_zntSLPRvCHRh" title="Working Interest rate">49</span>% working interest in SASB in partnership with TPAO. SASB has four producing fields, each with a production platform plus subsea pipelines that connect the fields to an onshore gas plant. The four SASB fields are located off the north coast of Turkey towards the western end of the Black Sea.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management assesses each field for impairment indicators at each reporting date. Impairment indicators considered include the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Plans to discontinue or dispose of the asset before the previously expected date;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant reductions in estimates or reserves;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant cost overrun on a capital project;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant increases in the expected cost of dismantling assets and restoring the site; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production difficulties.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2023, the Company performed an assessment of potential impairment indicators and noted that the Company’s net asset value was greater than its market capitalization. As a result of the impairment indicator noted, the Company performed an impairment test in accordance with IFRS using fair value less cost to sell. For the purposes of testing impairment and determining fair value less cost to sell, the Company used a 30 year forecast of net cash flows obtained from the annual reserve report discounted at 10% and 20% to estimate the fair value of the oil and gas properties. The resulting recoverable amount exceeded the book values of the oil and gas properties and as such, no impairment charge was recognized as at December 31, 2023. As at December 31, 2023, the depletion calculation includes future development costs of $<span id="xdx_903_ecustom--DevelopmentExpense_c20230101__20231231_zUPjNGL9IHI3" title="Development expense">35,144,000</span> (2022 - $<span id="xdx_907_ecustom--DevelopmentExpense_c20220101__20221231_ziE8ogZzXc5l" title="Development expense">49,960,000</span>) based on the most recent reserve report.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_ecustom--DisclosureOfDetailedOilAndGasPropertiesExplanatory_zFgkctU1gjmg" style="font: 10pt Times New Roman, Times, Serif; display: none; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B8_zchgD50I9kP7">Schedule of Oil and Gas Properties</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B0_ifrs-full--GeographicalAreasAxis_custom--SouthAkcakocaSubBasinMember_zj5xbhm37Tfe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SASB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_ifrs-full--GeographicalAreasAxis_custom--CendereMember_zpguqNMKKHY2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cendere</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_z9MmmD3vb8Bg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20210101__20211231_eifrs-full--OilAndGasAssets_iS_zYlj2dir8l7f" style="vertical-align: bottom; background-color: White"> <td style="width: 46%">As at January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,792,155</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,448,180</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,240,335</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AdditionsCost_ztafDFJmPBee" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1840">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,122</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ChangeInAroEstimate_zqkLx34rZiOd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in ARO estimate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(459,601</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,305</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(454,296</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43C_c20220101__20221231_eifrs-full--OilAndGasAssets_iS_zbGksIWTVHw7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,398,676</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,453,485</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,852,161</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AdditionsCost_ziXIZFIuX9bd" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44,369,191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1852">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44,369,191</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--JvContributionCost_zx8dZiJkrz8d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">JV Contribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,656,785</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1856">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,656,785</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--ChangeInAroEstimate_zp6hB5fEP4Y5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in ARO estimate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,865,772</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,562</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,871,334</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--CurrencyTranslationAdjustmentCost_zvd0U9FjooBl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,748,897</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1864">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,748,897</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--ImpactOfHyperinflationCost_zGl6kj3eNxk1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">837,908</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">110,090</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">947,998</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20231231_eifrs-full--OilAndGasAssets_iS_zVvfJHoVvogd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,334,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,558,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,892,334</td><td style="text-align: left"> </td></tr> <tr id="xdx_437_c20230101__20231231_eifrs-full--OilAndGasAssets_iS_zaK6Xw02Ay3g" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost, Beginning Balance</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,334,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,558,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,892,334</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AdditionsCost_zSDYEv9bVzWk" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,381,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1880">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,381,768</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--JvContributionCost_z42o2NUjgqE" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">JV Contribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,623,835</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1884">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,623,835</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--ChangeInAroEstimate_zNZMNJUSlWIb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in ARO estimate and additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">706,159</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">102</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">706,261</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--CurrencyTranslationAdjustmentCost_zWVSwtDBuhij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,696,392</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(948,518</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,644,910</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--ImpactOfHyperinflationCost_zsTnhhx5ETG4" style="vertical-align: bottom; background-color: White"> <td>Impact of hyperinflation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,039,584</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,042,395</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,081,979</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ReclassifiedAsAssetsHeldForSale_iI_zdON6kUwBqJg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Reclassified as assets held for sale (Note 5)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,036,216</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1900">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,036,216</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43D_c20230101__20231231_eifrs-full--OilAndGasAssets_iE_zVkPMKYZlMba" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">59,105,389</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,651,992</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">61,757,381</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43C_c20230101__20231231_eifrs-full--OilAndGasAssets_iE_zSxh1VZRKDf4" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost, Ending Balance</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">59,105,389</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,651,992</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">61,757,381</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Accumulated depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20210101__20211231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zo0yp6U2M859" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at January 1, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">555,201</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,460,661</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,015,862</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DepletionExpenses_ziTcUGDxHkOc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Depletion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">188,446</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">227,240</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">415,686</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_438_c20220101__20221231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zFq7zRBsCAdg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">743,647</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,687,901</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,431,548</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DepletionExpenses_z9W3ZgcxEwl4" style="vertical-align: bottom; background-color: White"> <td>Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263,556</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">187,476</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,451,032</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ImpactOfHyperinflationAccumulatedDepletion_zYbqwEXsUiBi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(34,215</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,825</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(40,040</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_433_c20230101__20231231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zIILAbGuNb0c" style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,972,988</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,869,552</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,842,540</td><td style="text-align: left"> </td></tr> <tr id="xdx_431_c20230101__20231231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zVzNAjbhKuuf" style="display: none; vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated depletion, Beginning Balance</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,972,988</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,869,552</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,842,540</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DepletionExpenses_zXkLHnykJtSg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,038,009</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">81,165</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,119,174</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--AccumulatedDepletionCurrencyTranslationAdjustment_zczLgPEnsfOi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(731,475</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(693,127</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,424,602</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--ImpactOfHyperinflationAccumulatedDepletion_zipYigiCDP36" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">804,164</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">762,005</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,566,169</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_435_c20230101__20231231_ecustom--OilAndGasAssetsAccumulatedepletion_iE_zMq4XKKJALdk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">7,083,686</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,019,595</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,103,281</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43F_c20230101__20231231_ecustom--OilAndGasAssetsAccumulatedepletion_iE_zyD0oyEeJXoj" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated depletion, Ending Balance</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">7,083,686</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,019,595</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,103,281</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Net book value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20220101__20221231_ecustom--OilAndGasAssetsNetBookValue_iS_zFUSZ9j6qPy" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2021</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">655,029</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">765,584</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,420,613</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_439_c20230101__20231231_ecustom--OilAndGasAssetsNetBookValue_iS_zsXLfdlsg1Fe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2022</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">29,361,333</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">688,461</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">30,049,794</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43D_c20230101__20231231_ecustom--OilAndGasAssetsNetBookValue_iS_zwK6YyldwQA2" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net book value, Beginning Balance</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">29,361,333</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">688,461</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">30,049,794</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43F_c20230101__20231231_ecustom--OilAndGasAssetsNetBookValue_iE_zW25oCL9oRke" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1pt">As at December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">52,021,703</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">632,397</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">52,654,100</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_432_c20230101__20231231_ecustom--OilAndGasAssetsNetBookValue_iE_zvfEpWW1Sld3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net book value, Ending Balance</span></span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">52,021,703</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">632,397</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">52,654,100</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 1792155 2448180 4240335 66122 66122 -459601 5305 -454296 1398676 2453485 3852161 44369191 44369191 -6656785 -6656785 -3865772 -5562 -3871334 -4748897 -4748897 837908 110090 947998 31334321 2558013 33892334 31334321 2558013 33892334 56381768 56381768 -29623835 -29623835 706159 102 706261 -17696392 -948518 -18644910 21039584 1042395 22081979 -3036216 -3036216 59105389 2651992 61757381 59105389 2651992 61757381 555201 1460661 2015862 188446 227240 415686 743647 1687901 2431548 1263556 187476 1451032 -34215 -5825 -40040 1972988 1869552 3842540 1972988 1869552 3842540 5038009 81165 5119174 -731475 -693127 -1424602 804164 762005 1566169 7083686 2019595 9103281 7083686 2019595 9103281 655029 765584 1420613 29361333 688461 30049794 29361333 688461 30049794 52021703 632397 52654100 52021703 632397 52654100 0.196 0.098 65000 65000 0.49 35144000 49960000 <p id="xdx_80B_eifrs-full--DisclosureOfExplorationAndEvaluationAssetsExplanatory_zvlmrMzHvSF6" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_828_zvyNw45ga3Hh">Exploration &amp; Evaluation Assets</span></b></span></p> <p id="xdx_894_ecustom--DisclosureOfDetailedExplorationAndEvaluationAssetsExplanatory_znQpZP5O5eIa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span><span id="xdx_8B0_zyjmL9y4LQl4" style="display: none">Schedule of Exploration &amp; Evaluation Assets</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">Unproved <br/>properties</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Unproven <br/>properties</td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Turkey</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Bulgaria</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">As at January 1, 2021</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_98F_eifrs-full--OilAndGasAssets_iS_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_zy3rYoI8j5L7" style="width: 14%; font-weight: bold; text-align: right" title="Cost, Beginning Balance"><span style="-sec-ix-hidden: xdx2ixbrl1997">-</span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_98E_eifrs-full--OilAndGasAssets_iS_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zDa9Mwqj26Wa" style="width: 14%; font-weight: bold; text-align: right" title="Cost, Beginning Balance">3,122,443</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_989_eifrs-full--OilAndGasAssets_iS_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zI81U6SlD84c" style="width: 14%; font-weight: bold; text-align: right" title="Cost, Beginning Balance">3,122,443</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_z3KTB955MPA5" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation change"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2003">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zrO4nD6WsUC1" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation change">(6,297</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zKURiuCYDhS1" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation change">(6,297</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_98C_eifrs-full--OilAndGasAssets_iS_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_zsOd5eDFAwXa" style="font-weight: bold; text-align: right" title="Cost, Beginning Balance"><span style="-sec-ix-hidden: xdx2ixbrl2009">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_98A_eifrs-full--OilAndGasAssets_iS_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_z30TXmr9wNoi" style="font-weight: bold; text-align: right" title="Cost, Beginning Balance">3,116,146</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_980_eifrs-full--OilAndGasAssets_iS_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zq8oghdkOUg3" style="font-weight: bold; text-align: right" title="Cost, Beginning Balance">3,116,146</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Impairment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--LossOnImpairmentOfExplorationAndEvaluationAssets_iN_di_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_zSO1MsoVVsP8" style="text-align: right" title="Impairment"><span style="-sec-ix-hidden: xdx2ixbrl2015">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--LossOnImpairmentOfExplorationAndEvaluationAssets_iN_di_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zbBVSwSno6m8" style="text-align: right" title="Impairment">(3,101,343</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--LossOnImpairmentOfExplorationAndEvaluationAssets_iN_di_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zHvf9wJAD17h" style="text-align: right" title="Impairment">(3,101,343</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_z1VFvhk1nsdl" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation change"><span style="-sec-ix-hidden: xdx2ixbrl2021">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zJWurtqUCjH6" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation change">(14,803</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zb5c1mpGkmNc" style="border-bottom: Black 1pt solid; text-align: right" title="Currency translation adjustment">(14,803</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">As at December 31, 2022 and 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_986_eifrs-full--OilAndGasAssets_iE_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_zxk00VXCS6u7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Cost, Ending Balance"><span id="xdx_908_eifrs-full--OilAndGasAssets_iE_c20231231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_z6WaQu5ek6g1" title="Cost, Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2027"><span style="-sec-ix-hidden: xdx2ixbrl2029">-</span></span></span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_98E_eifrs-full--OilAndGasAssets_iE_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zuyexWQb2PW7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Cost, Ending Balance"><span id="xdx_909_eifrs-full--OilAndGasAssets_iE_c20231231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zQVIoWBWHsWg" title="Cost, Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2031"><span style="-sec-ix-hidden: xdx2ixbrl2033">-</span></span></span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_98E_eifrs-full--OilAndGasAssets_iE_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zOlfjNr2KyKf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Cost, Ending Balance"><span id="xdx_903_eifrs-full--OilAndGasAssets_iE_c20231231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_z1HjuzoBJmig" title="Cost, Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2035"><span style="-sec-ix-hidden: xdx2ixbrl2037">-</span></span></span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zzcmn5tEQeJ" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bulgaria</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company holds a 98,205-acre oil and gas exploration claim in the Dobrudja Basin located in northeast Bulgaria. The Company intends to conduct exploration for natural gas and test production activities over a five-year period in accordance with or exceeding its minimum work program obligation. The Company’s commitment is to perform geological and geophysical exploration activities in the first 3 years of the initial term (the “Exploration and Geophysical Work Stage”), followed by drilling activities in years 4 and 5 of the initial term (the “Data Evaluation and Drilling Stage”). Prior to the Exploration and Geophysical Work Stage, the Company is required to complete an environmental impact assessment (“EIA”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exploration &amp; Evaluation Assets (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the fall of 2022, the Company decided to recommence the EIA. The Company consulted with local counsel and an environmental consultant but was unable to determine whether it would be able to obtain the license. In October and November 2022, management made repeated efforts to obtain a visa to visit Bulgaria and seek clarification on the status of the license, however the visa applications were declined and management determined that it would no longer pursue the work program and would dispose of the property. As a result, the Company recorded an impairment loss of $<span id="xdx_903_ecustom--ImpairmentOfExplorationAndEvaluationAssets_c20220101__20221231_z3FLR8LeSIY3" title="Impairment loss">3,101,343</span> during the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Turkey</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective July 25, 2023, the Company entered into a farm-in agreement (the “Farm-in Agreement”) with a company existing under the laws of the Republic of Turkey (the “Farmor”). The Farmor holds a 100% undivided interest in three exploration licenses and is willing to assign and transfer a 50% undivided interest in the licenses to the Company in accordance with the terms of Farm-in Agreement. The Company has committed to the following terms to earn its interest (the “Farm-in Obligations”):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2D Seismic Data Acquisition and Data Processing:</b> Conduct (through contractors) a minimum of 351km 2D seismic data acquisition in the licensed area within 2023 (not completed - see below). Until the determination of exploration well locations, all seismic survey expenses (including all costs related to seismic crews, land damages, processing, interpretation, reporting, procurement, and reprocessing of previously acquired seismic lines in the license area, gravity surveys, etc.) will be covered by the Company. All reports and results of the conducted work, along with potential structures identified as a result of these activities, will be shared with Farmor. After joint evaluations and decisions, exploration wells will be drilled at the most suitable structures.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exploration Well Drilling Obligation:</b> Conduct (through contractors) drilling of 4 (four) exploration wells in the license area within the year 2024. Drilling of those four exploration wells shall be fully funded by the Company (including location, infrastructure development, land usage, and any other expenses). After the drilling and testing of the four exploration wells, the restoration of well locations to their original state, mud-pit clean-up, and any damage compensation costs, if applicable, will be borne by the Company</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash Consideration Payment Obligation. </b>In addition to the obligations stated in (1) and (2) above, the Company agreed to pay the Farmor a monthly fee of USD<span id="xdx_909_ecustom--PaymentForFee_uUSD_c20230101__20231231_z9amiu9Gz7fa" title="Payment for fee">15,000</span>, starting from the date of contract signing until the completion date of all obligations specified in (1) and (2) above, or until December 31, 2024 (whichever occurs earlier).</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company and the Farmor will notify each other of their intent to enter into a joint exploration period. After the Company’s fulfillment of the Farm-in Obligations, the costs and liabilities of operations within the licenses will be shared equally based on a 50-50 principle. During the joint exploration period, there will be no Cash Consideration Payment Obligation as specified in (3) above.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the terms of the Farm-in Agreement, the Company had to complete a minimum of 351km 2D seismic data acquisition within 2023, which could not be completed due to unfavorable weather conditions. In addition, the Farm-in Agreement specifies that the parties have agreed to enter into a joint operating agreement (“JOA”) and that if the JOA is not signed within 2 months (i.e. September 25, 2023), the Farm-in Agreement shall automatically terminate without the need for any additional notice, unless otherwise agreed by the parties. Although the deadline has passed, the Company and the Farmor continue to operate in good faith towards the completion of the Farm-in Obligations and towards the signing of a JOA, although no amending agreements or notices of understanding have been executed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company expensed $<span id="xdx_908_ecustom--GeologicalAndGeophysicalExpenses_c20230101__20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--FarmInAgreementMember_zF2Zz9RhCvqk" title="Geological and geophysical expenses">381,618</span> in relation to the Farm-in Agreement in accordance with its pre-license exploration accounting policy. The amount is included in geological and geophysical expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_ecustom--DisclosureOfDetailedExplorationAndEvaluationAssetsExplanatory_znQpZP5O5eIa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span><span id="xdx_8B0_zyjmL9y4LQl4" style="display: none">Schedule of Exploration &amp; Evaluation Assets</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">Unproved <br/>properties</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Unproven <br/>properties</td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Turkey</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Bulgaria</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">As at January 1, 2021</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_98F_eifrs-full--OilAndGasAssets_iS_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_zy3rYoI8j5L7" style="width: 14%; font-weight: bold; text-align: right" title="Cost, Beginning Balance"><span style="-sec-ix-hidden: xdx2ixbrl1997">-</span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_98E_eifrs-full--OilAndGasAssets_iS_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zDa9Mwqj26Wa" style="width: 14%; font-weight: bold; text-align: right" title="Cost, Beginning Balance">3,122,443</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_989_eifrs-full--OilAndGasAssets_iS_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zI81U6SlD84c" style="width: 14%; font-weight: bold; text-align: right" title="Cost, Beginning Balance">3,122,443</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_z3KTB955MPA5" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation change"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2003">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zrO4nD6WsUC1" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation change">(6,297</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20210101__20211231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zKURiuCYDhS1" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation change">(6,297</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_98C_eifrs-full--OilAndGasAssets_iS_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_zsOd5eDFAwXa" style="font-weight: bold; text-align: right" title="Cost, Beginning Balance"><span style="-sec-ix-hidden: xdx2ixbrl2009">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_98A_eifrs-full--OilAndGasAssets_iS_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_z30TXmr9wNoi" style="font-weight: bold; text-align: right" title="Cost, Beginning Balance">3,116,146</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_980_eifrs-full--OilAndGasAssets_iS_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zq8oghdkOUg3" style="font-weight: bold; text-align: right" title="Cost, Beginning Balance">3,116,146</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Impairment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--LossOnImpairmentOfExplorationAndEvaluationAssets_iN_di_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_zSO1MsoVVsP8" style="text-align: right" title="Impairment"><span style="-sec-ix-hidden: xdx2ixbrl2015">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--LossOnImpairmentOfExplorationAndEvaluationAssets_iN_di_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zbBVSwSno6m8" style="text-align: right" title="Impairment">(3,101,343</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--LossOnImpairmentOfExplorationAndEvaluationAssets_iN_di_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zHvf9wJAD17h" style="text-align: right" title="Impairment">(3,101,343</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_z1VFvhk1nsdl" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation change"><span style="-sec-ix-hidden: xdx2ixbrl2021">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zJWurtqUCjH6" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation change">(14,803</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyTranslationChangeOilAndGasProperties_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zb5c1mpGkmNc" style="border-bottom: Black 1pt solid; text-align: right" title="Currency translation adjustment">(14,803</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">As at December 31, 2022 and 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_986_eifrs-full--OilAndGasAssets_iE_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_zxk00VXCS6u7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Cost, Ending Balance"><span id="xdx_908_eifrs-full--OilAndGasAssets_iE_c20231231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesTurkeyMember_z6WaQu5ek6g1" title="Cost, Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2027"><span style="-sec-ix-hidden: xdx2ixbrl2029">-</span></span></span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_98E_eifrs-full--OilAndGasAssets_iE_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zuyexWQb2PW7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Cost, Ending Balance"><span id="xdx_909_eifrs-full--OilAndGasAssets_iE_c20231231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember__ifrs-full--GeographicalAreasAxis__custom--UnprovenPropertiesBulgariaMember_zQVIoWBWHsWg" title="Cost, Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2031"><span style="-sec-ix-hidden: xdx2ixbrl2033">-</span></span></span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_98E_eifrs-full--OilAndGasAssets_iE_c20220101__20221231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zOlfjNr2KyKf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Cost, Ending Balance"><span id="xdx_903_eifrs-full--OilAndGasAssets_iE_c20231231__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_z1HjuzoBJmig" title="Cost, Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2035"><span style="-sec-ix-hidden: xdx2ixbrl2037">-</span></span></span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 3122443 3122443 -6297 -6297 3116146 3116146 3101343 3101343 -14803 -14803 3101343 15000 381618 <p id="xdx_808_eifrs-full--DisclosureOfPropertyPlantAndEquipmentExplanatory_zFk539hExJ0j" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_829_z5Glxeiwm2Fj">Property and Equipment</span></b></span></p> <p id="xdx_892_eifrs-full--DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_zeEyB74YCH1l" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_z8SfIYQuRWXb" style="display: none">Schedule of Property, Plant and Equipment</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BF_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--RightofuseAssetsMember_zu3dW4TebAEc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Right-of-use <br/> assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B0_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--LeaseholdImprovementsMember_zJfv8bXaPoTk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Leasehold improvements</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--OtherPropertyPlantAndEquipmentMember_zW2zxOuE4jsd" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equipment</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B8_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--MotorVehiclesMember_zTwdEab2H6R9" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Motor</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vehicles</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B0_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--FixturesAndFittingsMember_z7BJ61f3UyBf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Furniture</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_zbbP7tHXFBm4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_430_c20210101__20211231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iS_zpAK7WTFlG5f" style="vertical-align: bottom; background-color: White"> <td style="width: 40%">As at January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">68,647</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">171,009</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">3,447</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">41,389</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">8,609</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">293,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zK1ByMRyAkZ2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2056">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2057">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2058">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180,067</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180,739</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_z9Gr1xKnlAnj" style="display: none; vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2063">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2064">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2065">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2066">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2067">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2068">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zRupkEQNHb5f" style="vertical-align: bottom; background-color: White"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2070">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2071">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2072">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(65,016</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2074">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(65,016</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zVqawgYLeBhf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,504</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(32,559</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,345</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(16,075</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">404</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(65,079</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43B_c20220101__20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iS_zTWkWzxE8Vb2" style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,143</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">138,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,102</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,365</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,685</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">343,745</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zeAa6ih9zupi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2091">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,699</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">289,640</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">332,528</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">696,928</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zoaE2dQZiCZ9" style="vertical-align: bottom; background-color: White"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2098">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2099">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2100">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(64,588</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2102">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(64,588</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zvqZEU0Cvwg1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,293</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,890</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(31,002</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(37,147</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,147</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(78,479</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zlvhSCDDZD51" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,599</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,103</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">72,597</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">87,626</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,318</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">176,243</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_435_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iS_zNAOsCbTWLn9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,449</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186,362</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">333,337</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">458,784</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44,917</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,073,849</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zLV8wJcXKbW" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236,202</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,076</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,644</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,958</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">296,378</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zdyT7P5DA7g2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(47,685</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2134">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2135">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(97,028</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2137">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(144,713</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_znXd7LuXMdri" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(105,792</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,555</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,062</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(151,880</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,291</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(458,580</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_z8Or3dRZ8RP7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">69,616</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">68,608</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">140,538</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">136,661</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17,538</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">432,961</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_437_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iE_zp28uC7O7vF" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">202,790</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">208,913</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">358,889</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">362,181</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">67,122</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,199,895</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Accumulated depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_437_c20210101__20211231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_zdLGE5769zA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at January 1, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">28,838</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">102,754</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,632</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">30,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">164,844</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zMOYyNINoCg1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,920</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,355</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">290</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,964</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,238</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">31,767</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_437_c20220101__20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_z1NUZmjr9pe7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,758</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115,109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,922</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,377</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,445</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">196,611</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zPfDgvNijTJ5" style="vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,549</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,423</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74,622</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,117</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">145,035</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zFyzBpiZfT7i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(140</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(438</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,923</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,735</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(288</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,524</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_432_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_zflwlBPK48Ib" style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,167</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">126,995</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,422</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">111,264</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">332,122</td><td style="text-align: left"> </td></tr> <tr id="xdx_43F_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_zKhbgVGIpoUa" style="display: none; vertical-align: bottom; background-color: White"> <td>Beginning Balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,167</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">126,995</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,422</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">111,264</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">332,122</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_z3xhiPz5BOrd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,457</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,135</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,084</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62,920</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,168</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,764</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zxgpCCC0zpLa" style="vertical-align: bottom; background-color: White"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,332</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2218">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2219">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,267</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2221">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(40,599</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zZVESb9zT2o3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,892</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(45,848</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,840</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(41,251</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,513</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(121,344</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zCQK90uIKwlf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">16,372</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,404</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,513</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45,350</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,763</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">133,402</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_439_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iE_zs8FT8KxNyD7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">68,772</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">144,686</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">99,179</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">148,016</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">18,692</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">479,345</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43D_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iE_zgYZug8p58Xk" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending Balance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">68,772</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">144,686</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">99,179</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">148,016</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">18,692</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">479,345</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Net Book Value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_435_c20210101__20211231_eifrs-full--PropertyPlantAndEquipment_iE_z65DhnetnYZa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2021</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">17,385</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">23,341</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">180</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">98,988</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">7,240</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">147,134</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_434_c20220101__20221231_eifrs-full--PropertyPlantAndEquipment_iE_zuum5mvsDo35" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2022</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">10,282</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">59,367</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">287,915</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">347,520</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">36,643</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">741,727</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43F_c20230101__20231231_eifrs-full--PropertyPlantAndEquipment_iE_zNLC0wdeL7h5" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">As at December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">134,018</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">64,227</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">259,710</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">214,165</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">48,430</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">720,550</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_43D_c20230101__20231231_eifrs-full--PropertyPlantAndEquipment_iE_zP0S5WUnhAz5" style="display: none; vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">Net Book Value</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">134,018</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">64,227</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">259,710</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">214,165</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">48,430</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">720,550</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zKzLaq63yKW4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company disposed of equipment with a net book value of $<span id="xdx_903_ecustom--NetBookValue_c20230101__20231231_zQD6zWQDxkee" title="Net book value">66,761</span>. In lieu of cash, accounts payable was reduced by $<span id="xdx_90C_ecustom--CashAndAccountsPayable_iI_c20231231_zJ3PEyLz9qwh" title="Cash and accounts payable">86,296</span>, resulting in a gain of $<span id="xdx_901_eifrs-full--GainsOnDisposalsOfPropertyPlantAndEquipment_c20230101__20231231_zDyjManIGsQ9" title="Property plant and equipment">19,535</span>. The Company also terminated a lease, resulting in a non-cash disposal of a right-of-use asset with a net book value of $<span id="xdx_901_ecustom--DisposalOfRightofuseAssets_c20230101__20231231_zjqVjF07TRFf" title="Disposal of right of use assets">37,353</span>. The lease component disposed was valued at $<span id="xdx_901_ecustom--LeaseComponentValue_iI_c20231231_zP7qs25FDKpk" title="Lease component value">69,217</span>, resulting in a gain of $<span id="xdx_90C_ecustom--GainOnTerminationOfLease_c20230101__20231231_zP0ugSsGc4a3" title="Gain on termination of lease">31,864</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, the Company disposed of equipment with a cost and net book value of $<span id="xdx_908_eifrs-full--DisposalsPropertyPlantAndEquipment_c20220101__20221231_zPvDBm4KE4Nj" title="Disposal of equipment">64,588 </span>for proceeds of $<span id="xdx_90F_eifrs-full--ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_c20220101__20221231_z66aEbwpXx1g" title="Disposal of property equipment">64,588</span>, resulting in no gain or loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eifrs-full--DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_zeEyB74YCH1l" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_z8SfIYQuRWXb" style="display: none">Schedule of Property, Plant and Equipment</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BF_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--RightofuseAssetsMember_zu3dW4TebAEc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Right-of-use <br/> assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B0_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--LeaseholdImprovementsMember_zJfv8bXaPoTk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Leasehold improvements</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--OtherPropertyPlantAndEquipmentMember_zW2zxOuE4jsd" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equipment</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B8_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--MotorVehiclesMember_zTwdEab2H6R9" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Motor</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vehicles</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B0_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--FixturesAndFittingsMember_z7BJ61f3UyBf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Furniture</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_zbbP7tHXFBm4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_430_c20210101__20211231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iS_zpAK7WTFlG5f" style="vertical-align: bottom; background-color: White"> <td style="width: 40%">As at January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">68,647</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">171,009</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">3,447</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">41,389</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">8,609</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">293,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zK1ByMRyAkZ2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2056">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2057">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2058">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180,067</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180,739</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_z9Gr1xKnlAnj" style="display: none; vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2063">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2064">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2065">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2066">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2067">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2068">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zRupkEQNHb5f" style="vertical-align: bottom; background-color: White"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2070">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2071">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2072">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(65,016</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2074">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(65,016</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zVqawgYLeBhf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,504</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(32,559</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,345</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(16,075</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">404</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(65,079</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43B_c20220101__20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iS_zTWkWzxE8Vb2" style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,143</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">138,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,102</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,365</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,685</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">343,745</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zeAa6ih9zupi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2091">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,699</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">289,640</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">332,528</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">696,928</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zoaE2dQZiCZ9" style="vertical-align: bottom; background-color: White"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2098">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2099">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2100">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(64,588</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2102">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(64,588</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zvqZEU0Cvwg1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,293</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,890</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(31,002</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(37,147</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,147</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(78,479</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zlvhSCDDZD51" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,599</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,103</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">72,597</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">87,626</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,318</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">176,243</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_435_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iS_zNAOsCbTWLn9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,449</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186,362</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">333,337</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">458,784</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44,917</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,073,849</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zLV8wJcXKbW" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236,202</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,076</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,644</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,958</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">296,378</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zdyT7P5DA7g2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(47,685</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2134">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2135">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(97,028</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2137">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(144,713</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_znXd7LuXMdri" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(105,792</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,555</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,062</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(151,880</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,291</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(458,580</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_z8Or3dRZ8RP7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">69,616</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">68,608</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">140,538</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">136,661</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17,538</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">432,961</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_437_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iE_zp28uC7O7vF" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">202,790</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">208,913</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">358,889</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">362,181</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">67,122</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,199,895</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Accumulated depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_437_c20210101__20211231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_zdLGE5769zA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at January 1, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">28,838</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">102,754</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,632</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">30,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">164,844</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zMOYyNINoCg1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,920</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,355</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">290</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,964</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,238</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">31,767</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_437_c20220101__20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_z1NUZmjr9pe7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,758</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115,109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,922</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,377</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,445</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">196,611</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zPfDgvNijTJ5" style="vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,549</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,423</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74,622</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,117</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">145,035</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zFyzBpiZfT7i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(140</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(438</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,923</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,735</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(288</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,524</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_432_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_zflwlBPK48Ib" style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,167</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">126,995</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,422</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">111,264</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">332,122</td><td style="text-align: left"> </td></tr> <tr id="xdx_43F_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_zKhbgVGIpoUa" style="display: none; vertical-align: bottom; background-color: White"> <td>Beginning Balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,167</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">126,995</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,422</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">111,264</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">332,122</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_z3xhiPz5BOrd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,457</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,135</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,084</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62,920</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,168</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,764</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zxgpCCC0zpLa" style="vertical-align: bottom; background-color: White"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,332</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2218">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2219">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,267</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2221">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(40,599</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zZVESb9zT2o3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,892</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(45,848</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,840</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(41,251</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,513</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(121,344</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zCQK90uIKwlf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">16,372</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,404</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,513</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45,350</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,763</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">133,402</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_439_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iE_zs8FT8KxNyD7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">68,772</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">144,686</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">99,179</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">148,016</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">18,692</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">479,345</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43D_c20230101__20231231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iE_zgYZug8p58Xk" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending Balance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">68,772</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">144,686</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">99,179</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">148,016</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">18,692</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">479,345</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Net Book Value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_435_c20210101__20211231_eifrs-full--PropertyPlantAndEquipment_iE_z65DhnetnYZa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2021</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">17,385</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">23,341</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">180</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">98,988</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">7,240</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">147,134</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_434_c20220101__20221231_eifrs-full--PropertyPlantAndEquipment_iE_zuum5mvsDo35" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2022</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">10,282</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">59,367</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">287,915</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">347,520</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">36,643</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">741,727</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43F_c20230101__20231231_eifrs-full--PropertyPlantAndEquipment_iE_zNLC0wdeL7h5" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">As at December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">134,018</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">64,227</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">259,710</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">214,165</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">48,430</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">720,550</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_43D_c20230101__20231231_eifrs-full--PropertyPlantAndEquipment_iE_zP0S5WUnhAz5" style="display: none; vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">Net Book Value</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">134,018</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">64,227</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">259,710</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">214,165</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">48,430</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">720,550</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 68647 171009 3447 41389 8609 293101 180067 672 180739 65016 65016 -15504 -32559 -1345 -16075 404 -65079 53143 138450 2102 140365 9685 343745 42699 289640 332528 32061 696928 64588 64588 -5293 -2890 -31002 -37147 -2147 -78479 2599 8103 72597 87626 5318 176243 50449 186362 333337 458784 44917 1073849 236202 14498 11076 15644 18958 296378 47685 97028 144713 -105792 -60555 -126062 -151880 -14291 -458580 69616 68608 140538 136661 17538 432961 202790 208913 358889 362181 67122 1199895 28838 102754 1632 30413 1207 164844 6920 12355 290 10964 1238 31767 35758 115109 1922 41377 2445 196611 4549 12324 47423 74622 6117 145035 -140 -438 -3923 -4735 -288 -9524 40167 126995 45422 111264 8274 332122 40167 126995 45422 111264 8274 332122 37457 13135 52084 62920 10168 175764 10332 30267 40599 -14892 -45848 -16840 -41251 -2513 -121344 16372 50404 18513 45350 2763 133402 68772 144686 99179 148016 18692 479345 68772 144686 99179 148016 18692 479345 17385 23341 180 98988 7240 147134 10282 59367 287915 347520 36643 741727 134018 64227 259710 214165 48430 720550 134018 64227 259710 214165 48430 720550 66761 86296 19535 37353 69217 31864 64588 64588 <p id="xdx_80B_eifrs-full--DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory_zZWGmcziWvJ9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9. </b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82A_zuroRHuSZyS3">Accounts Payable and Accrued Liabilities</span></b></span></p> <p id="xdx_896_ecustom--DisclosureOfAccountsPayableAndAccruedLiabilitiesExplanatory_zdFaTu9Br1Kd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zHaDty274fvf" style="display: none">Schedule of Accounts Payable and Accrued Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231_zwNDwF2mNgx1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20221231_zYXuXe6GNdCb" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20211231_zJNx8d42xj3k" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_ecustom--AccountsPayable_iI_maTAOCPzkOH_zleIPkq0qar8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Accounts payable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">13,567,262</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">8,376,620</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">699,035</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--AccruedLiabilities_iI_maTAOCPzkOH_zc7KCn7XJQx4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accrued liabilities</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">77,078</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">886,324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113,616</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PayrollWithholdingAndSalesTaxLiabilities_iI_maTAOCPzkOH_zdb0lGIA6aU" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Payroll, withholding and sales tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,072</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,830</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--CashCallsReceivedFromJvPartner_maTAOCPzkOH_zLH74h839jr3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Cash calls received from JV partner</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2312">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">917,064</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2314">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--TradeAndOtherCurrentPayables_iTI_mtTAOCPzkOH_zvxQhkive3Hf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,065,019</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">10,600,080</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">852,481</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zWhJ0iUPXLYe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_ecustom--DisclosureOfAccountsPayableAndAccruedLiabilitiesExplanatory_zdFaTu9Br1Kd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zHaDty274fvf" style="display: none">Schedule of Accounts Payable and Accrued Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231_zwNDwF2mNgx1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20221231_zYXuXe6GNdCb" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20211231_zJNx8d42xj3k" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_ecustom--AccountsPayable_iI_maTAOCPzkOH_zleIPkq0qar8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Accounts payable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">13,567,262</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">8,376,620</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">699,035</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--AccruedLiabilities_iI_maTAOCPzkOH_zc7KCn7XJQx4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accrued liabilities</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">77,078</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">886,324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113,616</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PayrollWithholdingAndSalesTaxLiabilities_iI_maTAOCPzkOH_zdb0lGIA6aU" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Payroll, withholding and sales tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,072</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,830</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--CashCallsReceivedFromJvPartner_maTAOCPzkOH_zLH74h839jr3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Cash calls received from JV partner</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2312">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">917,064</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2314">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--TradeAndOtherCurrentPayables_iTI_mtTAOCPzkOH_zvxQhkive3Hf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,065,019</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">10,600,080</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">852,481</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 13567262 8376620 699035 77078 886324 113616 420679 420072 39830 917064 14065019 10600080 852481 <p id="xdx_801_eifrs-full--DisclosureOfBorrowingsExplanatory_zPhLphAERc9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_828_zP0DPut4OWvl">Loans Payable</span></b></span></p> <p id="xdx_89D_ecustom--DisclosureOfLoansPayableExplanatory_zs5NZ3Ey3h54" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_z89Lg6L0l9kj" style="display: none">Schedule of Loans Payable</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20231231_ztBRtrnhIZEi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20221231_zxNz3gXPWgna" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20211231_z1yy2OEMGpVf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zdLiLfgVK2x4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loans at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zhsiTNDcwus" title="Interest rate">10</span>% per annum<sup id="xdx_F4C_zYEChWztMmDl">1</sup></span></td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2324">-</span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,107</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">107,167</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zzV1YSiA74Tg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest bearing loans at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zLPys1Z8CCd7" title="Interest rate">12</span>% per annum<sup id="xdx_F43_zY0GKKNZmQjl">1</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2330">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2331">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,069</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zMVtbEK4n02i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zgMGwSScBPf6" title="Interest rate">45.33</span>% per annum<sup id="xdx_F47_zuOFBQPHMuc3">2</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2336">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,537</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2338">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zw8YmEzH0rP7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loan at TLREF + <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zwFSI6bnRQm" title="Interest rate">3.5944</span>% per annum<sup id="xdx_F49_zJSQ2YoINqgb">3</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2342">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,911</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2344">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zzqHKavCqvVj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zj02oc7CPpw8" title="Interest rate">37.7</span>% per annum<sup id="xdx_F4E_zOT4OVOaDe3k">4</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">19,461</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2349">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2350">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_ziaZfWKmA5eb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zs5TmmnNyRCi" title="Interest rate">6</span>% per annum<sup id="xdx_F4C_zzlRX4C3o0ak">7,8</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">614,899</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2355">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2356">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zAlHJJykkjK" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zlKiJ5makYlk" title="Interest rate">1</span>% per month<sup id="xdx_F4B_zGWBZbjsVNtf">6</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,822,250</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2361">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2362">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zADCTghD9fee" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, non- interest-bearing loan<sup id="xdx_F40_zB3QFuYB9MS3">9</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">7,840</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2367">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2368">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_zYTQuAdrN0z4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zvv2SMKWoGyk" title="Interest rate">19.4</span>% per annum<sup id="xdx_F46_zgposTNOogRd">11</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2370">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2371">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,642</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zV7ArpUUf1y9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_zVeXySIruHOa" title="Interest rate">13.25</span>% per annum<sup id="xdx_F49_zQP5tHPmqe8i">12</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2376">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2377">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,534</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zKAsIi8rURce" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zsFXsN00VoYd" title="Interest rate">15</span>% per annum<sup id="xdx_F4A_zmk651dGNDL6">13</sup></span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2382">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2383">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">473,635</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Borrowings_iI_zXESI00bIhlg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total loans payable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,464,450</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">166,555</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">649,047</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--ShorttermBorrowings_iNI_di_zL1ggjJXr7Fa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Current portion of loans payable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(3,464,450</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(145,866</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(630,534</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eifrs-full--LongtermBorrowings_iI_zcDtKmTWXffe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Long-term portion of loans payable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2396">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">20,689</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">18,513</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F0A_z5Tb6lb621J2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F16_zSwovF67e589" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loans bearing interest accrue at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zZy4DI7yxvLd" title="Interest rate">10</span>% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_z6aWZCfVOhRd" title="Interest rate">12</span>% per annum are all unsecured. The loans matured between <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--BorrowingsMaturity_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zLHXnKX3QoL2" title="Loan, maturity date">January and April 1, 2021</span> and thereafter were due on demand. During the year ended December 31, 2023, the Company made principal payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtInstrumentPrincipalPayments_dxL_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zLhHuxiObY84" title="Principal payments::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl2407">Nil</span></span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_ecustom--DebtInstrumentPrincipalPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zikRDrfX5QR5" title="Principal payments">135,868</span>) and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--DebtInstrumentInterestPayments_dxL_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zJnJ4utvg9Ge" title="Interest payments::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl2411">Nil</span></span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--DebtInstrumentInterestPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zpNaHEu3PWZ4" title="Interest payments">3,515</span>) in interest payments. During the year ended December 31, 2023, the Company wrote off the remaining balance of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_ecustom--WroteOffRemainingBalance_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_z4wSi39IivKk" title="Wrote off remaining balance">12,107</span>.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F08_zRK8TJ4v1wR" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F19_z6zOLqt4ZXU3" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 25, 2022, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_uTurkishlira_c20220525__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zn0zSrwu3ohh" title="Principal amount">1,500,000</span> (or approximately USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_c20220525__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zCRkfKaS96Ll" title="Principal amount">91,961</span>). The loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--BorrowingsMaturity_c20220525__20220525__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zQjN1Cq85CAl" title="Loan, maturity date">May 23, 2024</span>, and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20220525__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zmZ2L4EEnv4" title="Interest rate">45.33</span>% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2023, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_ecustom--DebtInstrumentPrincipalPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zxEdFzLZcjla" title="Principal payments">45,832</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_ecustom--DebtInstrumentPrincipalPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zmPVjz8HMY66" title="Principal payments">26,968</span>) in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--DebtInstrumentInterestPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zXyRhDVyx3aa" title="Interest payments">14,717</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--DebtInstrumentInterestPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_z4mkSl06Vdse" title="Interest payments">20,636</span>) in interest payments.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zbkFY4KUy8Lg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F12_z0eQC4VsVGd1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 23, 2022, Garanti Bank extended a short-term loan to Park Place Turkey Limited in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--NotionalAmount_iI_uTurkishlira_c20221123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zMGKD3GbLGKj" title="Principal amount">2,000,000</span> (or approximately USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--NotionalAmount_iI_c20221123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zkSJND8WdGC" title="Principal amount">107,356</span>). The loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--BorrowingsMaturity_c20221123__20221123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zSogMBvfGNlj" title="Loan, maturity date">November 23, 2023</span>, and bears interest at the Turkish Lira Overnight Reference Rate (“TLREF”) plus <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20221123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zKxUH7qx4ZG9" title="Interest rate">3.5944</span>% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2023, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_ecustom--DebtInstrumentPrincipalPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_z2qM2FtV9v3" title="Principal payments">79,372</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_ecustom--DebtInstrumentPrincipalPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zClJ5Rr0Mq2i" title="Principal payments">10,183</span>) in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_ecustom--DebtInstrumentInterestPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zEkUTFx1fp3j" title="Interest payments">4,264</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--DebtInstrumentInterestPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_z0IEGl7MGadd" title="Interest payments">1,607</span>) in interest payments.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F03_zYCozIyW2sKe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1A_zUdZ6IMKiXJf" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 13, 2023, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_uTurkishlira_c20230313__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zOKyvCWjm85c" title="Principal amount">2,000,000</span> (or approximately USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_c20230313__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zvLNb1SFgXu" title="Principal amount">105,386</span>). The loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--BorrowingsMaturity_c20230313__20230313__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zSLh1aXFW2Q8" title="Loan, maturity date">March 12, 2024</span>, and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230313__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zHTv52TgA8X6" title="Interest rate">37.67</span>% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2023, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_ecustom--DebtInstrumentPrincipalPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_z17aATC4kPkb" title="Principal payments">61,627</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_ecustom--DebtInstrumentPrincipalPayments_dxL_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zHKzp8pNzeql" title="Principal payments::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl2462">nil</span></span>) in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_ecustom--DebtInstrumentInterestPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zLJv1RwlaZoe" title="Interest payments">18,676</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--DebtInstrumentInterestPayments_dxL_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zmce2g3Fh1j6" title="Interest payments::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl2466">nil</span></span>) in interest payments.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10. </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loans Payable (continued) </b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 1, 2023, the Company entered into an agreement with TR1 Master Fund to borrow $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--Borrowings_iI_c20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zX7m8EGmt36h">2,200,000</span>. The loan was issued with a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--PaymentsForDebtIssueCosts_c20230201__20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zrInV6OPSFTg" title="Debt discount">200,000</span> discount and bears interest at a rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zilEmhy0N92g" title="Interest rate">1</span>% per month. The maturity date is <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--BorrowingsMaturity_c20230201__20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zKDHBl2n48Ph" title="Loan, maturity date">April 1, 2024</span>. In the event that the loan is repaid in full prior to the maturity date, the minimum interest payment on the loan is $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--InterestPaymentOnLoan_c20230201__20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zqKFvxepkW29" title="Interest payment on loan">100,000</span>. Upon repayment of the loan at any time, the Company has to pay an exit fee of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_ecustom--ExitFee_iI_c20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zQrgPvOqJAd2" title="Exit fee">50,000</span>. The minimum interest payment and exit fee have been recorded on the consolidated statements of income (loss) and comprehensive income (loss) as finance costs. If, during the period that any amount of the loan remains outstanding, the Company issues any equity, the Lender may demand repayment of all or part of the principal amount of the loan in an amount equal to the aggregate subscription price of the equity offering. On April 26, 2023, the Company repaid the loan in its entirety, including the minimum interest and exit fee. In addition to the minimum interest and exit fee, the Company recorded interest expense of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_ecustom--DebtInstrumentInterestExpense_c20230426__20230426__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_z8exRvBkVso1" title="Interest expense">200,000</span>, representing the accretion of the discount.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F02_zVi7rqOHv9Yk" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F18_zBuyfbyVqau4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 1, 2023, the Company entered into agreements with TR1 Master Fund to borrow $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--Borrowings_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zgJMD3klXJSl">1,065,000</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--Borrowings_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zQB86S0meFh1">1,597,500</span>. The loans were issued with a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--PaymentsForDebtIssueCosts_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zBURXCwTFtfa" title="Debt discount">65,000</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--PaymentsForDebtIssueCosts_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zQ0g8Kwgf3Jl" title="Debt discount">97,500</span> discount, respectively, and bear an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zRrFHuiKYV6j" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zUJfI875hcf4" title="Interest rate">1</span></span>% per month. The maturity date was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--BorrowingsMaturity_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zQu09XsfXU6i" title="Loan, maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--BorrowingsMaturity_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zG1XBbxttUw7" title="Loan, maturity date">December 31, 2023</span></span>, and the Company is claiming that the principal of TR1 Master Fund agreed to extend the loans to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--BorrowingsMaturityExtend_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zy7TyeRNIYNi" title="Loan, maturity date extend"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--BorrowingsMaturityExtend_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zlnnyfxQxL6f" title="Loan, maturity date extend">December 31, 2024</span></span>. In the event that the loan is repaid in full prior to the maturity date, the minimum interest payments on the loans are $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_ecustom--InterestPaymentOnLoan_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zw4O3enj549" title="Interest payment on loan">40,000</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_ecustom--InterestPaymentOnLoan_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zXLURKMc2DS3" title="Interest payment on loan">60,000</span>, respectively. The minimum interest payments have been recorded on the consolidated statements of income (loss) and comprehensive income (loss) as finance costs. Accrued interest in excess of the minimum interest payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--InterestPayable_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zEYxlyNa1Ef6" title="Accrued interest">23,900</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--InterestPayable_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zN8Egk8UPUo7" title="Accrued interest">35,850</span>, respectively were recorded during the year ended December 31, 2023. Accretion of the discount recognized on the loans during the period were $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--AccretionDiscountRates_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zdwSbpmswQ92" title="Accretion discount">63,916</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--AccretionDiscountRates_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zyyNyzootaQ7" title="Accretion discount">96,138</span>, respectively. If, during the period that any amount of the loan remains outstanding, the Company issues any equity, the Lender may demand repayment of all or part of the principal amount of the loan in an amount equal to the aggregate subscription price of the equity offering. The Company is currently in discussions with the lender and has not made any repayments as at the date of these consolidated financial statements (Note 25).</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F09_zQZzdK3CxcF4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F16_zzEbPMNVUw2d" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 20, 2023, the Company entered into a promissory note with 1324025 BC Ltd for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--DebtSecurities_iI_uCAD_c20230730__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_z3OKzXZpfsG6" title="Debt instruments issued">300,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--DebtSecurities_iI_c20230730__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zvKguPV6OvAd" title="Debt instruments issued">228,023</span>). The promissory note bears an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--DebtSecuritiesInterestRate_iI_pid_dp_c20230730__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zq8F8GUINGA6" title="Interest rate">6</span>% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024. During the year ended December 31, 2023, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_ecustom--DebtSecuritiesPrincipalAmount_uCAD_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zHjtVkQEAdj2" title="Principal amount">50,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtSecuritiesPrincipalAmount_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zAafthRXeSMk" title="Principal amount">37,717</span>) of the principal balance was repaid and CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtInstrumentInterestPayments_uCAD_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zodS7NOrn0i" title="Interest payments">7,917</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--DebtInstrumentInterestPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zRaBkKAQWIvh" title="Interest payments">5,867</span>) in interest was accrued.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zdJI0KspZAn9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1C_ztrQvnNzQ8p5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 1, 2023, the Company entered into a promissory note with 2476393 Alberta Ltd for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--DebtSecurities_iI_uCAD_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zXQ9klwhgc21" title="Debt instruments issued">546,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--DebtSecurities_iI_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zDiZuKBzLfo5" title="Debt instruments issued">402,115</span>). The promissory note bears an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--DebtSecuritiesInterestRate_iI_pid_dp_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zNSyBw64Pa4e" title="Interest rate">6</span>% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024. As at December 31, 2023, no repayments had been made. During 2023, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--DebtInstrumentInterestPayments_uCAD_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zSApsVy8xo7k" title="Interest payments">10,734</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_ecustom--DebtInstrumentInterestPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zA8sC3APUB4a" title="Interest payments">7,954</span>) in interest was accrued.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zh55kcH99b8f" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F16_zKy3NpU4Xb1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 23, 2023, the Company entered into a short-term non-interest-bearing promissory note with 1647020 Alberta Ltd. for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--DebtSecurities_iI_uCAD_c20231123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_zMX25SDGJbf8" title="Debt instruments issued">12,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--DebtSecurities_iI_c20231123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_z4CmWfqGvt86" title="Debt instruments issued">8,766</span>). During the year ended December 31, 2023, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_ecustom--DebtSecuritiesPrincipalAmount_uCAD_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_zK6b3uTq1V" title="Debt instruments issued">1,614</span> (USD $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--DebtSecuritiesPrincipalAmount_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_zzEcqDvKO7T6" title="Debt instruments issued">1,179</span>) of the principal had been applied against amounts owed by the note holder.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 23, 2023, the Company entered into a short-term non-interest-bearing promissory note with a consultant of the Company for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--DebtSecurities_iI_uCAD_c20231123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zMTW0L4357Kb" title="Debt instruments issued">200,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--DebtSecurities_iI_c20231123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zJccAN8ISj28" title="Debt instruments issued">146,121</span>). During the year ended December 31, 2023, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_ecustom--DebtSecuritiesPrincipalAmount_uCAD_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zUYUUH6RP8Jb" title="Principal amount">200,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtSecuritiesPrincipalAmount_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zn3Pl48BT7zi" title="Principal amount">146,121</span>) of the principal had been repaid.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F05_zk39PQKbieXf" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F14_zL7N2f5c3k8a" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 15, 2021, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--NotionalAmount_iI_uTurkishlira_c20211115__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zlN9df2qjRm3" title="Principal amount">350,000</span> (or approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--NotionalAmount_iI_c20211115__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_z4Dg9wFiO0Od" title="Principal amount">25,600</span>). The loan matures on November 15, 2024 and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20211115__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zgXe73Muqs79" title="Interest rate">19.44</span>% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2022, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_ecustom--DebtInstrumentPrincipalPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_z76sOmzwW0lc" title="Principal payments">20,946</span> (2021 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_ecustom--DebtInstrumentPrincipalPayments_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zfoXfQFi1ho3" title="Principal payments">547</span>) in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--DebtInstrumentInterestPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zgzO2HIcytP8" title="Interest payments">3,624</span> (2021 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--DebtInstrumentInterestPayments_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zLrU75GZuKt2" title="Interest payments">424</span>) in interest payments. As at December 31, 2022, the loan is fully repaid.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10. </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loans Payable (continued) </b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_z3et9uUm3sEl" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_zOOvMzsk6Yt4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 4, 2020, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--NotionalAmount_iI_uTurkishlira_c20200204__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zx4GfBOZKYAe" title="Principal amount">500,000</span> (or approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--NotionalAmount_iI_c20200204__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_z4m1ANwAkR5e" title="Principal amount">83,500</span>). The loan matured on February 4, 2022 and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20200204__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zbAcunzkA5v4" title="Interest rate">13.25</span>% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2022, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_ecustom--DebtInstrumentPrincipalPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zUWIqhbed547" title="Principal payments">2,888</span> (2021 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_ecustom--DebtInstrumentPrincipalPayments_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zCXhTTzKoMxg" title="Principal payments">19,542</span>) in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_ecustom--DebtInstrumentInterestPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zrIqkAqoPHZh" title="Interest payments">45</span> (2021 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_ecustom--DebtInstrumentInterestPayments_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zRaHMtLD1li6" title="Interest payments">1,822</span>) in interest payments. As at December 31, 2022, the loan has been fully repaid.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F06_zEwvzZpwnrKf" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F19_zLeHpdqHD4Wg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 4, 2021, the Company received $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--LoansAndReceivables_iI_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zOEObTUYOil6" title="Amount receivables">500,000</span> from a third party (the “Lender”) repayable in one year from the date of disbursement. The amount is subject to interest at a rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zExM4OCsXwba" title="Interest rate">15</span>% per annum. The Company granted <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_ecustom--WarrantsGranted_c20210304__20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zpHLhDMZOrni" title="Warrants granted">1,000,000</span> common share purchase warrants to the lender in conjunction with the loan. The warrants expire in <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_ecustom--WarrantsExpire_dc_c20210304__20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zK1b4nTVIt0f" title="warrants expire">two years</span> and have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--ExercisePriceOfWarrants_iI_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zvlqKFQRFpu5" title="Exercise price of warrants">0.16</span> per warrant. The fair value of the share purchase warrants has been accounted as a debt issuance cost and offset against the loan and will be recognized as financing cost over the term of the loan. The fair value of the warrants was determined to be $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--FairValueOfWarrantsIssued_iI_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zEYqNOLg9jJc" title="Fair value of warrants">152,750</span> based on the Black-Scholes Option Pricing Model using the following assumptions: expected dividend yield - <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember__ifrs-full--UnobservableInputsAxis__custom--DividendYieldMeasurementInputMember_zaKgEdpKwNZg" title="Dividend yield">0</span>%, expected volatility - <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember_zBwSnhtgs0Rk" title="Expected volatility">229</span>%, risk-free interest rate - <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember__ifrs-full--UnobservableInputsAxis__ifrs-full--InterestRateMeasurementInputMember_zE55kPGFyDC3" title="Risk-free interest rate">0.08</span>% and an expected remaining life – <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20210304__20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember_zL2epbT5MaBa" title="Expected remaining life">2.00</span> years. During the year ended December 31, 2022, the Company recognized $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--FinanceCosts_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_ztvMwRdPL0A1" title="Financing cost">26,365</span> (2021– $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--FinanceCosts_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_za3nhg5yRwEa" title="Financing cost">126,386</span>) as financing cost and accrued interest of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--InterestReceivable_iI_c20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zT0YrLBz7sSe" title="Accrued interest">18,082</span> (2021 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--InterestReceivable_iI_c20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_z3KkQDGGd7F2" title="Accrued interest">62,055</span>). As at December 31, 2022, the loan has been fully repaid.</span></td></tr> </table> <p id="xdx_8A5_zNt3wgVe7lLd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--DisclosureOfLoansPayableExplanatory_zs5NZ3Ey3h54" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_z89Lg6L0l9kj" style="display: none">Schedule of Loans Payable</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20231231_ztBRtrnhIZEi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20221231_zxNz3gXPWgna" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20211231_z1yy2OEMGpVf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zdLiLfgVK2x4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loans at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zhsiTNDcwus" title="Interest rate">10</span>% per annum<sup id="xdx_F4C_zYEChWztMmDl">1</sup></span></td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2324">-</span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,107</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">107,167</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zzV1YSiA74Tg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest bearing loans at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zLPys1Z8CCd7" title="Interest rate">12</span>% per annum<sup id="xdx_F43_zY0GKKNZmQjl">1</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2330">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2331">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,069</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zMVtbEK4n02i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zgMGwSScBPf6" title="Interest rate">45.33</span>% per annum<sup id="xdx_F47_zuOFBQPHMuc3">2</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2336">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,537</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2338">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zw8YmEzH0rP7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loan at TLREF + <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zwFSI6bnRQm" title="Interest rate">3.5944</span>% per annum<sup id="xdx_F49_zJSQ2YoINqgb">3</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2342">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,911</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2344">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zzqHKavCqvVj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zj02oc7CPpw8" title="Interest rate">37.7</span>% per annum<sup id="xdx_F4E_zOT4OVOaDe3k">4</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">19,461</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2349">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2350">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_ziaZfWKmA5eb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zs5TmmnNyRCi" title="Interest rate">6</span>% per annum<sup id="xdx_F4C_zzlRX4C3o0ak">7,8</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">614,899</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2355">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2356">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zAlHJJykkjK" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zlKiJ5makYlk" title="Interest rate">1</span>% per month<sup id="xdx_F4B_zGWBZbjsVNtf">6</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,822,250</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2361">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2362">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zADCTghD9fee" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, non- interest-bearing loan<sup id="xdx_F40_zB3QFuYB9MS3">9</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">7,840</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2367">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2368">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_zYTQuAdrN0z4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zvv2SMKWoGyk" title="Interest rate">19.4</span>% per annum<sup id="xdx_F46_zgposTNOogRd">11</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2370">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2371">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,642</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zV7ArpUUf1y9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_zVeXySIruHOa" title="Interest rate">13.25</span>% per annum<sup id="xdx_F49_zQP5tHPmqe8i">12</sup></span></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2376">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2377">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,534</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zKAsIi8rURce" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unsecured, interest bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zsFXsN00VoYd" title="Interest rate">15</span>% per annum<sup id="xdx_F4A_zmk651dGNDL6">13</sup></span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2382">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2383">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">473,635</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Borrowings_iI_zXESI00bIhlg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total loans payable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,464,450</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">166,555</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">649,047</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--ShorttermBorrowings_iNI_di_zL1ggjJXr7Fa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Current portion of loans payable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(3,464,450</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(145,866</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(630,534</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eifrs-full--LongtermBorrowings_iI_zcDtKmTWXffe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Long-term portion of loans payable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2396">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">20,689</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">18,513</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F0A_z5Tb6lb621J2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F16_zSwovF67e589" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loans bearing interest accrue at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zZy4DI7yxvLd" title="Interest rate">10</span>% and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_z6aWZCfVOhRd" title="Interest rate">12</span>% per annum are all unsecured. The loans matured between <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--BorrowingsMaturity_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zLHXnKX3QoL2" title="Loan, maturity date">January and April 1, 2021</span> and thereafter were due on demand. During the year ended December 31, 2023, the Company made principal payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtInstrumentPrincipalPayments_dxL_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zLhHuxiObY84" title="Principal payments::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl2407">Nil</span></span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_ecustom--DebtInstrumentPrincipalPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zikRDrfX5QR5" title="Principal payments">135,868</span>) and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--DebtInstrumentInterestPayments_dxL_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zJnJ4utvg9Ge" title="Interest payments::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl2411">Nil</span></span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--DebtInstrumentInterestPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zpNaHEu3PWZ4" title="Interest payments">3,515</span>) in interest payments. During the year ended December 31, 2023, the Company wrote off the remaining balance of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_ecustom--WroteOffRemainingBalance_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_z4wSi39IivKk" title="Wrote off remaining balance">12,107</span>.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F08_zRK8TJ4v1wR" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F19_z6zOLqt4ZXU3" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 25, 2022, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_uTurkishlira_c20220525__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zn0zSrwu3ohh" title="Principal amount">1,500,000</span> (or approximately USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_c20220525__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zCRkfKaS96Ll" title="Principal amount">91,961</span>). The loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--BorrowingsMaturity_c20220525__20220525__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zQjN1Cq85CAl" title="Loan, maturity date">May 23, 2024</span>, and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20220525__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zmZ2L4EEnv4" title="Interest rate">45.33</span>% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2023, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_ecustom--DebtInstrumentPrincipalPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zxEdFzLZcjla" title="Principal payments">45,832</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_ecustom--DebtInstrumentPrincipalPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zmPVjz8HMY66" title="Principal payments">26,968</span>) in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--DebtInstrumentInterestPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zXyRhDVyx3aa" title="Interest payments">14,717</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--DebtInstrumentInterestPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_z4mkSl06Vdse" title="Interest payments">20,636</span>) in interest payments.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zbkFY4KUy8Lg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F12_z0eQC4VsVGd1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 23, 2022, Garanti Bank extended a short-term loan to Park Place Turkey Limited in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--NotionalAmount_iI_uTurkishlira_c20221123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zMGKD3GbLGKj" title="Principal amount">2,000,000</span> (or approximately USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--NotionalAmount_iI_c20221123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zkSJND8WdGC" title="Principal amount">107,356</span>). The loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--BorrowingsMaturity_c20221123__20221123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zSogMBvfGNlj" title="Loan, maturity date">November 23, 2023</span>, and bears interest at the Turkish Lira Overnight Reference Rate (“TLREF”) plus <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20221123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zKxUH7qx4ZG9" title="Interest rate">3.5944</span>% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2023, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_ecustom--DebtInstrumentPrincipalPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_z2qM2FtV9v3" title="Principal payments">79,372</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_ecustom--DebtInstrumentPrincipalPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zClJ5Rr0Mq2i" title="Principal payments">10,183</span>) in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_ecustom--DebtInstrumentInterestPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zEkUTFx1fp3j" title="Interest payments">4,264</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--DebtInstrumentInterestPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_z0IEGl7MGadd" title="Interest payments">1,607</span>) in interest payments.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F03_zYCozIyW2sKe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1A_zUdZ6IMKiXJf" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 13, 2023, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_uTurkishlira_c20230313__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zOKyvCWjm85c" title="Principal amount">2,000,000</span> (or approximately USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_c20230313__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zvLNb1SFgXu" title="Principal amount">105,386</span>). The loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--BorrowingsMaturity_c20230313__20230313__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zSLh1aXFW2Q8" title="Loan, maturity date">March 12, 2024</span>, and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230313__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zHTv52TgA8X6" title="Interest rate">37.67</span>% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2023, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_ecustom--DebtInstrumentPrincipalPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_z17aATC4kPkb" title="Principal payments">61,627</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_ecustom--DebtInstrumentPrincipalPayments_dxL_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zHKzp8pNzeql" title="Principal payments::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl2462">nil</span></span>) in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_ecustom--DebtInstrumentInterestPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zLJv1RwlaZoe" title="Interest payments">18,676</span> (2022 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--DebtInstrumentInterestPayments_dxL_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zmce2g3Fh1j6" title="Interest payments::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl2466">nil</span></span>) in interest payments.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10. </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loans Payable (continued) </b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 1, 2023, the Company entered into an agreement with TR1 Master Fund to borrow $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--Borrowings_iI_c20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zX7m8EGmt36h">2,200,000</span>. The loan was issued with a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--PaymentsForDebtIssueCosts_c20230201__20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zrInV6OPSFTg" title="Debt discount">200,000</span> discount and bears interest at a rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zilEmhy0N92g" title="Interest rate">1</span>% per month. The maturity date is <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--BorrowingsMaturity_c20230201__20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zKDHBl2n48Ph" title="Loan, maturity date">April 1, 2024</span>. In the event that the loan is repaid in full prior to the maturity date, the minimum interest payment on the loan is $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--InterestPaymentOnLoan_c20230201__20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zqKFvxepkW29" title="Interest payment on loan">100,000</span>. Upon repayment of the loan at any time, the Company has to pay an exit fee of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_ecustom--ExitFee_iI_c20230201__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zQrgPvOqJAd2" title="Exit fee">50,000</span>. The minimum interest payment and exit fee have been recorded on the consolidated statements of income (loss) and comprehensive income (loss) as finance costs. If, during the period that any amount of the loan remains outstanding, the Company issues any equity, the Lender may demand repayment of all or part of the principal amount of the loan in an amount equal to the aggregate subscription price of the equity offering. On April 26, 2023, the Company repaid the loan in its entirety, including the minimum interest and exit fee. In addition to the minimum interest and exit fee, the Company recorded interest expense of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_ecustom--DebtInstrumentInterestExpense_c20230426__20230426__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_z8exRvBkVso1" title="Interest expense">200,000</span>, representing the accretion of the discount.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F02_zVi7rqOHv9Yk" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F18_zBuyfbyVqau4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 1, 2023, the Company entered into agreements with TR1 Master Fund to borrow $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--Borrowings_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zgJMD3klXJSl">1,065,000</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--Borrowings_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zQB86S0meFh1">1,597,500</span>. The loans were issued with a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--PaymentsForDebtIssueCosts_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zBURXCwTFtfa" title="Debt discount">65,000</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--PaymentsForDebtIssueCosts_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zQ0g8Kwgf3Jl" title="Debt discount">97,500</span> discount, respectively, and bear an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zRrFHuiKYV6j" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zUJfI875hcf4" title="Interest rate">1</span></span>% per month. The maturity date was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--BorrowingsMaturity_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zQu09XsfXU6i" title="Loan, maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--BorrowingsMaturity_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zG1XBbxttUw7" title="Loan, maturity date">December 31, 2023</span></span>, and the Company is claiming that the principal of TR1 Master Fund agreed to extend the loans to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--BorrowingsMaturityExtend_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zy7TyeRNIYNi" title="Loan, maturity date extend"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--BorrowingsMaturityExtend_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zlnnyfxQxL6f" title="Loan, maturity date extend">December 31, 2024</span></span>. In the event that the loan is repaid in full prior to the maturity date, the minimum interest payments on the loans are $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_ecustom--InterestPaymentOnLoan_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zw4O3enj549" title="Interest payment on loan">40,000</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_ecustom--InterestPaymentOnLoan_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zXLURKMc2DS3" title="Interest payment on loan">60,000</span>, respectively. The minimum interest payments have been recorded on the consolidated statements of income (loss) and comprehensive income (loss) as finance costs. Accrued interest in excess of the minimum interest payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--InterestPayable_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zEYxlyNa1Ef6" title="Accrued interest">23,900</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--InterestPayable_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zN8Egk8UPUo7" title="Accrued interest">35,850</span>, respectively were recorded during the year ended December 31, 2023. Accretion of the discount recognized on the loans during the period were $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--AccretionDiscountRates_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundOneMember_zdwSbpmswQ92" title="Accretion discount">63,916</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--AccretionDiscountRates_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixFundTwoMember_zyyNyzootaQ7" title="Accretion discount">96,138</span>, respectively. If, during the period that any amount of the loan remains outstanding, the Company issues any equity, the Lender may demand repayment of all or part of the principal amount of the loan in an amount equal to the aggregate subscription price of the equity offering. The Company is currently in discussions with the lender and has not made any repayments as at the date of these consolidated financial statements (Note 25).</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F09_zQZzdK3CxcF4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F16_zzEbPMNVUw2d" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 20, 2023, the Company entered into a promissory note with 1324025 BC Ltd for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--DebtSecurities_iI_uCAD_c20230730__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_z3OKzXZpfsG6" title="Debt instruments issued">300,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--DebtSecurities_iI_c20230730__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zvKguPV6OvAd" title="Debt instruments issued">228,023</span>). The promissory note bears an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--DebtSecuritiesInterestRate_iI_pid_dp_c20230730__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zq8F8GUINGA6" title="Interest rate">6</span>% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024. During the year ended December 31, 2023, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_ecustom--DebtSecuritiesPrincipalAmount_uCAD_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zHjtVkQEAdj2" title="Principal amount">50,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtSecuritiesPrincipalAmount_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zAafthRXeSMk" title="Principal amount">37,717</span>) of the principal balance was repaid and CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtInstrumentInterestPayments_uCAD_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zodS7NOrn0i" title="Interest payments">7,917</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--DebtInstrumentInterestPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zRaBkKAQWIvh" title="Interest payments">5,867</span>) in interest was accrued.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zdJI0KspZAn9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1C_ztrQvnNzQ8p5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 1, 2023, the Company entered into a promissory note with 2476393 Alberta Ltd for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--DebtSecurities_iI_uCAD_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zXQ9klwhgc21" title="Debt instruments issued">546,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--DebtSecurities_iI_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zDiZuKBzLfo5" title="Debt instruments issued">402,115</span>). The promissory note bears an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--DebtSecuritiesInterestRate_iI_pid_dp_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zNSyBw64Pa4e" title="Interest rate">6</span>% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024. As at December 31, 2023, no repayments had been made. During 2023, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--DebtInstrumentInterestPayments_uCAD_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zSApsVy8xo7k" title="Interest payments">10,734</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_ecustom--DebtInstrumentInterestPayments_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanEightMember_zA8sC3APUB4a" title="Interest payments">7,954</span>) in interest was accrued.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zh55kcH99b8f" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F16_zKy3NpU4Xb1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 23, 2023, the Company entered into a short-term non-interest-bearing promissory note with 1647020 Alberta Ltd. for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--DebtSecurities_iI_uCAD_c20231123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_zMX25SDGJbf8" title="Debt instruments issued">12,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--DebtSecurities_iI_c20231123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_z4CmWfqGvt86" title="Debt instruments issued">8,766</span>). During the year ended December 31, 2023, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_ecustom--DebtSecuritiesPrincipalAmount_uCAD_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_zK6b3uTq1V" title="Debt instruments issued">1,614</span> (USD $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_ecustom--DebtSecuritiesPrincipalAmount_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanNineMember_zzEcqDvKO7T6" title="Debt instruments issued">1,179</span>) of the principal had been applied against amounts owed by the note holder.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 23, 2023, the Company entered into a short-term non-interest-bearing promissory note with a consultant of the Company for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--DebtSecurities_iI_uCAD_c20231123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zMTW0L4357Kb" title="Debt instruments issued">200,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--DebtSecurities_iI_c20231123__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zJccAN8ISj28" title="Debt instruments issued">146,121</span>). During the year ended December 31, 2023, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_ecustom--DebtSecuritiesPrincipalAmount_uCAD_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zUYUUH6RP8Jb" title="Principal amount">200,000</span> (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtSecuritiesPrincipalAmount_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTenMember_zn3Pl48BT7zi" title="Principal amount">146,121</span>) of the principal had been repaid.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F05_zk39PQKbieXf" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F14_zL7N2f5c3k8a" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 15, 2021, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--NotionalAmount_iI_uTurkishlira_c20211115__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zlN9df2qjRm3" title="Principal amount">350,000</span> (or approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--NotionalAmount_iI_c20211115__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_z4Dg9wFiO0Od" title="Principal amount">25,600</span>). The loan matures on November 15, 2024 and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20211115__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zgXe73Muqs79" title="Interest rate">19.44</span>% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2022, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_ecustom--DebtInstrumentPrincipalPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_z76sOmzwW0lc" title="Principal payments">20,946</span> (2021 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_ecustom--DebtInstrumentPrincipalPayments_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zfoXfQFi1ho3" title="Principal payments">547</span>) in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--DebtInstrumentInterestPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zgzO2HIcytP8" title="Interest payments">3,624</span> (2021 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--DebtInstrumentInterestPayments_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanElevenMember_zLrU75GZuKt2" title="Interest payments">424</span>) in interest payments. As at December 31, 2022, the loan is fully repaid.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10. </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loans Payable (continued) </b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_z3et9uUm3sEl" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_zOOvMzsk6Yt4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 4, 2020, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--NotionalAmount_iI_uTurkishlira_c20200204__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zx4GfBOZKYAe" title="Principal amount">500,000</span> (or approximately US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--NotionalAmount_iI_c20200204__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_z4m1ANwAkR5e" title="Principal amount">83,500</span>). The loan matured on February 4, 2022 and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20200204__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zbAcunzkA5v4" title="Interest rate">13.25</span>% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2022, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_ecustom--DebtInstrumentPrincipalPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zUWIqhbed547" title="Principal payments">2,888</span> (2021 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_ecustom--DebtInstrumentPrincipalPayments_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zCXhTTzKoMxg" title="Principal payments">19,542</span>) in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_ecustom--DebtInstrumentInterestPayments_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zrIqkAqoPHZh" title="Interest payments">45</span> (2021 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_ecustom--DebtInstrumentInterestPayments_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwelveMember_zRaHMtLD1li6" title="Interest payments">1,822</span>) in interest payments. As at December 31, 2022, the loan has been fully repaid.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F06_zEwvzZpwnrKf" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F19_zLeHpdqHD4Wg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 4, 2021, the Company received $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--LoansAndReceivables_iI_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zOEObTUYOil6" title="Amount receivables">500,000</span> from a third party (the “Lender”) repayable in one year from the date of disbursement. The amount is subject to interest at a rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zExM4OCsXwba" title="Interest rate">15</span>% per annum. The Company granted <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_ecustom--WarrantsGranted_c20210304__20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zpHLhDMZOrni" title="Warrants granted">1,000,000</span> common share purchase warrants to the lender in conjunction with the loan. The warrants expire in <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_ecustom--WarrantsExpire_dc_c20210304__20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zK1b4nTVIt0f" title="warrants expire">two years</span> and have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--ExercisePriceOfWarrants_iI_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zvlqKFQRFpu5" title="Exercise price of warrants">0.16</span> per warrant. The fair value of the share purchase warrants has been accounted as a debt issuance cost and offset against the loan and will be recognized as financing cost over the term of the loan. The fair value of the warrants was determined to be $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--FairValueOfWarrantsIssued_iI_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zEYqNOLg9jJc" title="Fair value of warrants">152,750</span> based on the Black-Scholes Option Pricing Model using the following assumptions: expected dividend yield - <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember__ifrs-full--UnobservableInputsAxis__custom--DividendYieldMeasurementInputMember_zaKgEdpKwNZg" title="Dividend yield">0</span>%, expected volatility - <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember_zBwSnhtgs0Rk" title="Expected volatility">229</span>%, risk-free interest rate - <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember__ifrs-full--UnobservableInputsAxis__ifrs-full--InterestRateMeasurementInputMember_zE55kPGFyDC3" title="Risk-free interest rate">0.08</span>% and an expected remaining life – <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20210304__20210304__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember_zL2epbT5MaBa" title="Expected remaining life">2.00</span> years. During the year ended December 31, 2022, the Company recognized $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--FinanceCosts_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_ztvMwRdPL0A1" title="Financing cost">26,365</span> (2021– $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--FinanceCosts_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_za3nhg5yRwEa" title="Financing cost">126,386</span>) as financing cost and accrued interest of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--InterestReceivable_iI_c20221231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_zT0YrLBz7sSe" title="Accrued interest">18,082</span> (2021 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--InterestReceivable_iI_c20211231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThirteenMember_z3KkQDGGd7F2" title="Accrued interest">62,055</span>). As at December 31, 2022, the loan has been fully repaid.</span></td></tr> </table> 0.10 12107 107167 0.12 39069 0.4533 56537 0.035944 97911 0.377 19461 0.06 614899 0.01 2822250 7840 0.194 25642 0.1325 3534 0.15 473635 3464450 166555 649047 3464450 145866 630534 20689 18513 0.10 0.12 January and April 1, 2021 135868 3515 12107 1500000 91961 May 23, 2024 0.4533 45832 26968 14717 20636 2000000 107356 November 23, 2023 0.035944 79372 10183 4264 1607 2000000 105386 March 12, 2024 0.3767 61627 18676 2200000 200000 0.01 April 1, 2024 100000 50000 200000 1065000 1597500 65000 97500 0.01 0.01 December 31, 2023 December 31, 2023 December 31, 2024 December 31, 2024 40000 60000 23900 35850 63916 96138 300000 228023 0.06 50000 37717 7917 5867 546000 402115 0.06 10734 7954 12000 8766 1614 1179 200000 146121 200000 146121 350000 25600 0.1944 20946 547 3624 424 500000 83500 0.1325 2888 19542 45 1822 500000 0.15 1000000 P2Y 0.16 152750 0 229 0.08 P2Y 26365 126386 18082 62055 <p id="xdx_801_eifrs-full--DisclosureOfLeasesExplanatory_zjV8HIrbnRs7" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82B_zpYotPM6xhCe">Leases</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company leases certain assets under lease agreements. During the year ended December 31, 2023, the Company entered into three new office leases in Turkey, commencing January 1, 2023, February 15, 2023 and March 1, 2023, respectively. The leases all have a <span id="xdx_906_ecustom--RemainingLeaseTerms_dxL_c20230101__20231231_zEAPdGwT1Iu8" title="Remaining lease terms::XDX::P5Y"><span style="-sec-ix-hidden: xdx2ixbrl2616">five</span></span>-year term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company used an incremental borrowing rate (“IBR”) of <span id="xdx_90D_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231_zOZg3bXZdsj3" title="Interest rate">35</span>% in determining its lease liabilities. The IBR was derived from the Company’s assessment of its borrowings in Turkey.</span></p> <p id="xdx_896_ecustom--DisclosureOfQuantitativeInformationAboutLeaseLiabilitiesExplanatory_zFMnkPOqiHt3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_z9OqTRdRUTu4" style="display: none">Schedule of Changes in Lease Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20230101__20231231_zju1LwiIf15b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20220101__20221231_z6tcDGJVgJ85" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20210101__20211231_zCi1NCvNV9ra" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eifrs-full--LeaseLiabilities_iS_zCVEhAZKpr7k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Beginning balance</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">8,609</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">15,324</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">39,809</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AdditionsToLeaseLiabilities_zjdtKyElHZrb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions, cost</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">236,201</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2627">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2628">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eifrs-full--InterestExpenseOnLeaseLiabilities_zKMiGbva88gi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">53,831</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,378</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,480</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PaymentsForLeaseLiabilities_zaJl6Cj5fzRe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease payments</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(85,271</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,499</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,114</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--LeaseLiabilityCurrencyTranslationAdjustment_zzhfpyA0UUZ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(2,458</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,594</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,851</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--TerminationOfLease_zS1kCKdFmIi6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Termination of lease</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(69,217</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2643">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2644">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--LeaseLiabilities_iE_zjuE1S7bGWPh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">141,695</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">8,609</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">15,324</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zVIoLVd84Qha" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_ecustom--DisclosureOfLeaseLiabilityExplanatory_zRq5lW4KvlCh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2023, the Company’s lease liability is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zt3DBLcKpMV2" style="display: none">Schedule of Lease Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20231231_z7k01JAtXWV4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20221231_zvvL00smWGCb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20211231_zXYubaPK4zd9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eifrs-full--CurrentLeaseLiabilities_iI_zCrsXpJFClPi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Current portion of lease liability</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">19,637</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,057</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">6,732</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--NoncurrentLeaseLiabilities_iI_z2bHszrKv5ng" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Long-term portion of lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">122,058</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,552</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,592</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--LeaseLiabilities_iTI_zJRpm0ZGtlfk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Lease liability</span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">141,695</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">8,609</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">15,324</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zMuQwuKEP4k9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leases (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eifrs-full--DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_zfo64CP24lgk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum lease payments to be paid by the Company as a lessee as of December 31, 2023 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_z9BteP6Vuerg" style="display: none">Schedule of Future Minimum Lease Payments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Operating lease commitments and lease liability</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231_zVGeIGMqbfRk" style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40E_eifrs-full--GrossLeaseLiabilities_iI_pp0p0_hifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_zFAccPQOpXQ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: justify">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">58,919</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--GrossLeaseLiabilities_iI_pp0p0_hifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zrEyWUNWT35d" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">57,488</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--GrossLeaseLiabilities_iI_pp0p0_hifrs-full--MaturityAxis__ifrs-full--LaterThanTwoYearsAndNotLaterThanThreeYearsMember_zuZZvtrcApjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">59,163</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--GrossLeaseLiabilities_iI_pp0p0_hifrs-full--MaturityAxis__ifrs-full--LaterThanThreeYearsAndNotLaterThanFourYearsMember_zZYbC1xGVesg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60,921</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--GrossLeaseLiabilities_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236,491</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--DiscountLeaseLiabilities_iNI_pp0p0_di_zKBlHoEVsXE4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(94,796</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eifrs-full--LeaseLiabilities_iI_pp0p0_zLaZmuVx7Ldf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">141,695</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_z64rQC4T1jP1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, $<span id="xdx_90B_eifrs-full--LeaseCommitmentsForShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_iI_c20231231_zlS1aXM0F1Xf" title="Short-term leases">33,743</span> (2022 - $<span id="xdx_90E_eifrs-full--LeaseCommitmentsForShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_iI_c20221231_z5OsYCy55Xjl" title="Short-term leases">42,118</span> and 2021 - $<span id="xdx_90D_eifrs-full--LeaseCommitmentsForShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_iI_c20211231_z2TTOAQT0rz1" title="Short-term leases">30,909</span>) of short-term leases were expensed to the consolidated statements of income (loss) and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.35 <p id="xdx_896_ecustom--DisclosureOfQuantitativeInformationAboutLeaseLiabilitiesExplanatory_zFMnkPOqiHt3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_z9OqTRdRUTu4" style="display: none">Schedule of Changes in Lease Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20230101__20231231_zju1LwiIf15b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20220101__20221231_z6tcDGJVgJ85" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20210101__20211231_zCi1NCvNV9ra" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eifrs-full--LeaseLiabilities_iS_zCVEhAZKpr7k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Beginning balance</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">8,609</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">15,324</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">39,809</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AdditionsToLeaseLiabilities_zjdtKyElHZrb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions, cost</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">236,201</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2627">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2628">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eifrs-full--InterestExpenseOnLeaseLiabilities_zKMiGbva88gi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">53,831</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,378</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,480</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PaymentsForLeaseLiabilities_zaJl6Cj5fzRe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease payments</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(85,271</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,499</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,114</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--LeaseLiabilityCurrencyTranslationAdjustment_zzhfpyA0UUZ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(2,458</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,594</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,851</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--TerminationOfLease_zS1kCKdFmIi6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Termination of lease</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(69,217</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2643">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2644">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--LeaseLiabilities_iE_zjuE1S7bGWPh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">141,695</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">8,609</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">15,324</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 8609 15324 39809 236201 53831 1378 3480 -85271 -5499 -11114 -2458 -2594 -16851 -69217 141695 8609 15324 <p id="xdx_89C_ecustom--DisclosureOfLeaseLiabilityExplanatory_zRq5lW4KvlCh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2023, the Company’s lease liability is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zt3DBLcKpMV2" style="display: none">Schedule of Lease Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20231231_z7k01JAtXWV4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20221231_zvvL00smWGCb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20211231_zXYubaPK4zd9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eifrs-full--CurrentLeaseLiabilities_iI_zCrsXpJFClPi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Current portion of lease liability</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">19,637</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,057</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">6,732</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--NoncurrentLeaseLiabilities_iI_z2bHszrKv5ng" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Long-term portion of lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">122,058</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,552</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,592</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--LeaseLiabilities_iTI_zJRpm0ZGtlfk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Lease liability</span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">141,695</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">8,609</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">15,324</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 19637 4057 6732 122058 4552 8592 141695 8609 15324 <p id="xdx_89A_eifrs-full--DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_zfo64CP24lgk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum lease payments to be paid by the Company as a lessee as of December 31, 2023 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_z9BteP6Vuerg" style="display: none">Schedule of Future Minimum Lease Payments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Operating lease commitments and lease liability</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231_zVGeIGMqbfRk" style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40E_eifrs-full--GrossLeaseLiabilities_iI_pp0p0_hifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_zFAccPQOpXQ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: justify">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">58,919</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--GrossLeaseLiabilities_iI_pp0p0_hifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zrEyWUNWT35d" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">57,488</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--GrossLeaseLiabilities_iI_pp0p0_hifrs-full--MaturityAxis__ifrs-full--LaterThanTwoYearsAndNotLaterThanThreeYearsMember_zuZZvtrcApjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">59,163</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--GrossLeaseLiabilities_iI_pp0p0_hifrs-full--MaturityAxis__ifrs-full--LaterThanThreeYearsAndNotLaterThanFourYearsMember_zZYbC1xGVesg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60,921</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--GrossLeaseLiabilities_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236,491</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--DiscountLeaseLiabilities_iNI_pp0p0_di_zKBlHoEVsXE4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(94,796</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eifrs-full--LeaseLiabilities_iI_pp0p0_zLaZmuVx7Ldf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">141,695</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 58919 57488 59163 60921 236491 94796 141695 33743 42118 30909 <p id="xdx_808_ecustom--DisclosureOfConvertibleDebenturesExplanatory_zZnFSiQ00wGc" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_826_z663f7SeFkqd">Convertible debentures</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 30, 2019, the Company closed an unbrokered private placement of convertible debt, issuing $<span id="xdx_906_eifrs-full--NotionalAmount_iI_c20190930__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember_z2yatR1T41Nk" title="Notional amount">123,095</span> ($<span id="xdx_90D_eifrs-full--NotionalAmount_iI_uCAD_c20190930__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember_zbL0NdyhkUUk" title="Notional amount">163,000</span> CAD) in debentures to two investors. The convertible debentures bear interest at <span id="xdx_901_eifrs-full--BorrowingsInterestRate_iI_pid_dp_uPure_c20190930__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember_zoacZCWKcNL4" title="Borrowings, interest rate">10%</span> per annum, payable annually in advance. They are convertible any time during the term of the debenture into units (each unit consists of one share and one warrant; each warrant can acquire one share at an exercise price of $<span id="xdx_901_ecustom--ExercisePrice_iI_c20190930__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember_zA0ZKwgx1dz" title="Exercise price">1.00</span> USD or $<span id="xdx_90F_ecustom--ExercisePrice_iI_uCADPShares_c20190930__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember_zgUx4s6HAsEl" title="Exercise price">1.25</span> CAD per share, based on the currency initially subscribed) at a conversion price of $<span id="xdx_907_ecustom--DebtConversionPrice_iI_c20190930__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember_zsAhNsTyzvp8" title="Debt conversion price">0.60</span> USD or $<span id="xdx_908_ecustom--DebtConversionPrice_iI_uCADPShares_c20190930__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember_z5qQn7tbKlSi" title="Debt conversion price">0.75</span> CAD per unit, based on the currency initially subscribed. The convertible debt was set to mature on September 30, 2021 and was secured by a general security agreement over the assets of the Company. The note was converted during the year ended December 31, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the September 30, 2019 convertible debt included an embedded conversion feature denominated in Canadian dollars other than the functional currency which was USD at the issuance of the convertible debt, the debt was determined to be a financial instrument comprising an embedded derivative representing the conversion feature with a residual host debt component. On initial recognition, the Company used the residual value method to allocate the principal amount of the debentures between the embedded derivative conversion feature and host debt components. The conversion feature was valued first with the residual allocated to the host debt component.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On initial recognition the Company recognized a derivative liability of $<span id="xdx_909_eifrs-full--DerivativeFinancialLiabilities_iI_c20190930__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember_zIyjmQcJ36hk" title="Derivative liability">81,956</span> and an offsetting convertible debt discount of $<span id="xdx_900_ecustom--ConvertibleDebtDiscount_iI_c20190930__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember_zOMWUSgD9QMi" title="Convertible debt discount">81,956</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eifrs-full--DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory_zVwIZmEWNsM3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the conversion features was determined based on the Black-Scholes Option Pricing Model using the following weighted average assumptions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zBxC6MDBXIJ1" style="display: none">Schedule of Fair Value Assumptions of Conversion Features</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: right">2020</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: justify">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_900_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20201231__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember__ifrs-full--UnobservableInputsAxis__ifrs-full--InterestRateMeasurementInputMember_zTKHBppaKTD6" title="Dividend yield">0.13</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20200101__20201231__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember_zrmCO88jgNH1" title="Expected life (years)">1.01</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20201231__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember_zBOJ9NSe0AUl" title="Dividend yield">228</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Dividend yield</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20201231__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember__ifrs-full--UnobservableInputsAxis__custom--DividendYieldMeasurementInputMember_zaAoXSEVvV3f" title="Dividend yield">0</span></td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p id="xdx_8A1_zw5umvUV2WJl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 1, 2020, the Company amended the conversion price of the convertible debentures. Under the amended terms, they are convertible any time during the term of the debenture into units (each unit consists of one share and one warrant; each warrant can acquire one share at an exercise price of $<span id="xdx_906_ecustom--ExercisePrice_iI_uCADPShares_c20200701__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zUNKX6TS41xl">0.60 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAD per share, or approximately US$<span id="xdx_90A_ecustom--ExercisePrice_iI_c20200701__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zNdFey2IH0gb">0.45 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share) at a conversion price of $<span id="xdx_907_ecustom--DebtConversionPrice_iI_uCADPShares_c20200701__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zAnZGEeE1mye">0.375 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAD per unit (approximately US$<span id="xdx_906_ecustom--DebtConversionPrice_iI_c20200701__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zRsgR7T5VsPf">0.30 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per unit).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Convertible debentures (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eifrs-full--MaturityAnalysisForDerivativeFinancialLiabilities_zpKDKuSmKkB9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A continuity of convertible debt and the embedded derivative conversion feature for the year ended December 31, 2022 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_z9tVv6UdpSv7" style="display: none">Schedule of Convertible Debt and Embedded Derivative Conversion </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Host debt <br/>instrument</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Embedded <br/> conversion <br/> feature</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Balance, January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_909_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_zHuMW9cPfqT2" title="Beginning Balance">11,027</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90B_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--EmbeddedConversionFeatureMember_znyGI2fL0L1e" title="Beginning Balance">80,342</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_900_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--TotalMember_zGlamcD2BSUe" title="Beginning Balance">91,369</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--AccretionExpenses_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_zbN7447rdoHi" title="Accretion">19,943</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--AccretionExpenses_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--EmbeddedConversionFeatureMember_zuTG30fNOWea"><span style="-sec-ix-hidden: xdx2ixbrl2729">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--AccretionExpenses_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--TotalMember_zBHWJ8ZawQ6g" title="Accretion">19,943</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Conversion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90E_ecustom--Conversion_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_zsMfinStjrxb" title="Conversion">(30,970</span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_ecustom--Conversion_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--EmbeddedConversionFeatureMember_zoK4nYFcqNcc">(80,342</span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_ecustom--Conversion_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--TotalMember_znJmGpcnsSpk" title="Conversion">(111,312</span></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2021 &amp; December 31, 2022</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_zDVC4LVf8MI" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2738">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--EmbeddedConversionFeatureMember_zgH62Vk3vNe9" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2740">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--TotalMember_ziFkwzFrnPk4" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2742">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_ecustom--AccretionExpenses_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_z8LcjPmy5Sdj" title="Accretion"><span style="-sec-ix-hidden: xdx2ixbrl2744">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2021 &amp; December 31, 2022</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iE_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_zDsRfrlEz0qg" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2746">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iE_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--EmbeddedConversionFeatureMember_zPLsZ280Nivd" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2748">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iE_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--TotalMember_zZiNAsI6tI16" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2750">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zSgKmHXiHcc3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 20, 2023, the Company entered into an agreement to issue <span id="xdx_90C_eifrs-full--NumberOfSharesIssued_iI_c20230420__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EightCapitalMember_z8KuYPXZ2dZ6" title="Number of units issued">15,000</span> units of the Company (the “Units”) at a price of CAD$<span id="xdx_90B_eifrs-full--WeightedAverageSharePrice2019_uCADPShares_c20230420__20230420__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EightCapitalMember_znPjOgUNYzhg" title="Units price per share">1,000</span> per unit, for gross proceeds of CAD$<span id="xdx_90D_eifrs-full--ProceedsFromIssuingShares_uCAD_c20230420__20230420__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EightCapitalMember_zpBllFJrqBDe" title="Proceeds from share issuance">15,000,000</span> (USD$<span id="xdx_90B_eifrs-full--ProceedsFromIssuingShares_c20230420__20230420__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EightCapitalMember_z6bZCHNWtho5" title="Proceeds from share issuance">11,135,145</span>). Each Unit will consist of CAD$<span id="xdx_907_eifrs-full--NotesAndDebenturesIssued_iI_uCAD_c20230420_zO0C8lGQ0Vx9" title="Secured convertible debenture">1,000</span> (approximately USD$<span id="xdx_908_eifrs-full--NotesAndDebenturesIssued_iI_uUSD_c20230420_z2ucS6pk0pC5" title="Secured convertible debenture">742</span>) principal amount secured convertible debenture (“Debenture”) and <span id="xdx_904_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20230420__20230420_z2prvgNJ5hWd" title="Warrants to purchase shares">333</span> common share purchase warrants of the Company (the “Warrants”). Each Warrant will be exercisable for one common share of the Company at an exercise price of CAD$<span id="xdx_90A_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20230420__20230420_zyi8w0y75G73" title="Exercise price of warrants">2.50</span> (approximately USD$<span id="xdx_90D_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uUSDPShares_c20230420__20230420_zZmJnHkti4Y7" title="Exercise price of warrants">1.86</span>) and shall have an expiry date of <span id="xdx_90C_ecustom--WarrantsExpireDate_c20230420__20230420_zom8mvrWyVAf" title="Warrants expire date">June 29, 2025</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Debentures will mature on <span id="xdx_900_eifrs-full--BorrowingsMaturity_c20230420__20230420_zUTHZIMDAo69" title="Loan, maturity date">April 30, 2025</span> (the “Maturity Date”) and will accrue interest at the rate of <span id="xdx_903_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230420_zprco1BMirM5" title="Interest rate">12%</span> per annum, payable semi-annually. The Company has the ability to redeem the Debentures at any time between the dates of April 30, 2024 and April 30, 2025 at a redemption price of <span id="xdx_902_ecustom--RedeemDebenturesPercent_iI_pid_dp_uPure_c20230420_zQzQ5qc6TE61" title="Redeem debentures percent">105%</span> of the principal amount plus any accrued interest. At the holders’ option, the Debentures may be converted into common shares of the Company at any time, up to the earlier of the Maturity Date and the redemption of the Debentures, at a conversion price of CAD$<span id="xdx_903_ecustom--ConversionPricePerShare_iI_uCADPShares_c20230420_zqyx8zf0McK1" title="Conversion price per share">3.00</span> (approximately USD$<span id="xdx_903_ecustom--ConversionPricePerShare_iI_c20230420_zRM6xcP5eLO3" title="Conversion price per share">2.23</span>) per common share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The convertible debentures were determined to be a financial instrument comprising a host debt component, a conversion feature classified as equity, and freestanding warrants classified as equity. The warrants and conversion features were determined to be equity components because the exercise prices are denominated in the functional currency of the Company. Thus, these components the criterion of an equity instrument.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company paid an underwriting fee of CAD$<span id="xdx_907_ecustom--UnderwritingFee_iI_uCAD_c20230420_zFk5X6K3B7gh" title="Underwriting fee">1,045,000 </span>(USD$<span id="xdx_907_ecustom--UnderwritingFee_iI_uUSD_c20230420_zZyI31NbWvZ8" title="Underwriting fee">775,748</span>) and issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eifrs-full--NumberOfSharesIssued_iI_c20230420__ifrs-full--ComponentsOfEquityAxis__custom--BrokerWarrantsMember_zeApCzJ6EfB8" title="Common stock, shares">300,000</span> broker warrants (the “Broker Warrants”) in conjunction with the financing. The Broker Warrants are exercisable for one common share of the Company at an exercise price of CAD$<span id="xdx_909_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_uCAD_c20230420__20230420__ifrs-full--ComponentsOfEquityAxis__custom--BrokerWarrantsMember_zJBy50r2K4ui" title="Exercise price of warrant">2.50</span> and shall have an expiry date of <span id="xdx_905_ecustom--WarrantsExpireDate_c20230420__20230420__ifrs-full--ComponentsOfEquityAxis__custom--BrokerWarrantsMember_zMD9y6M2tG65" title="Warrants expire date">April 20, 2025</span>. The fair value of the Broker Warrants was estimated to be $<span id="xdx_90A_ecustom--FairValueOfWarrantsIssued_iI_c20230420__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember_zrNM0sXtbcWj" title="Fair value of warrants">216,777</span> and was determined using the Black-Scholes Option Pricing Model using the following assumptions: risk-free interest rate: <span id="xdx_90C_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20230420__20230420__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zqz1Ai8sSgpc" title="Risk free interest rate, share options granted">3.77%</span>, expected volatility: <span id="xdx_90E_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20230420__20230420__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z6LNDZufM5m4" title="Expected volatility, share options granted">100.96%</span>, dividend yield: <span id="xdx_909_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_pid_dp_uPure_c20230420__20230420__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zKvH21AEnfu1" title="Expected dividend as percentage, share options granted">0%</span> and expected life: <span id="xdx_90C_ecustom--DescriptionOfExpectedYerasAsShareOptionsGranted_dtY_c20230420__20230420__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z1POO7ACBKLb" title="Expected Expected years, share options granted">2</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On initial recognition, the proceeds were first allocated to the fair value of the host debt component, calculated using a market interest rate of <span id="xdx_904_ecustom--MarketInterestRate_iI_pid_dp_uPure_c20230420_zYDeFQNZl9T5" title="Market interest rate">16%</span>, which is the market interest rate of a debt instrument with similar terms but without the equity conversion feature. The residual proceeds were then allocated to the conversion feature and warrant equity components using the relative fair value method.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eifrs-full--DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory_hifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantReserveMember_zvOaEkYnY5ii" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The relative fair value of the warrants and conversion features were determined using the Black-Scholes Option Pricing Model using the assumptions set out as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zgGb7JuRW9v5" style="display: none">Schedule of Fair Value Assumptions of Conversion Features</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">April 20, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: justify">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_90A_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--InterestRateMeasurementInputMember_zIEwz9qwlg95" title="Warrant inputs">3.86</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zeZGqVB8eCqh" title="Warrant inputs">101.71</span> – <span id="xdx_907_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_znp5FykYj98d" title="Warrant inputs">119.94</span></span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--DividendYieldMeasurementInputMember_zKKyGCCDhRRk" title="Warrant inputs">0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Expected life</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20230420__20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zgU4eoUn9FA" title="Expected life (years)">2.03</span>– <span id="xdx_909_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20230420__20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_z1UiY4gWMeJk" title="Expected life (years)">2.19</span> years</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_z1FMN9NE5Tk6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Convertible debentures (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_ecustom--DisclosureOfConvertibleDebtExplanatory_z1jKARQcjqhc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A continuity schedule of the Company’s convertible debt is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zPvBRkzGhcUi" style="display: none">Schedule of Convertible Debt</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify"></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; text-align: left"></td><td id="xdx_49F_20230101__20231231_zunn8TZjJQMi" style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40B_eifrs-full--NetDebt_iS_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Balance as at January 1, 2023</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2820">-</span></td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--IssueOfConvertibleInstruments_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: justify">Issued</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">11,135,145</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--TransactionCosts_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(992,525</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--TransactionCostsAllocatedToEquity_zsdotIK9Gzba" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Transaction costs allocated to equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">77,086</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RelativeFairValueOfConversionFeature_zPqkpVGd2jw3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Relative fair value of conversion feature</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(369,181</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--RelativeFairValueOfWarrants_zm2qrBHNSuEd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Relative fair value of Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(495,653</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eifrs-full--RepaymentsOfCurrentBorrowings_iN_di_zWe9bbX9kdFl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Repayment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(709,022</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--AccretionExpenses_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">578,675</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--InterestExpense_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">931,962</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--CurrencyTranslationAdjustment_zZ7vBT1Gv0yc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">173,232</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--NetDebt_iE_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance as at December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">10,329,719</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Current</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eifrs-full--CurrentDebtInstrumentsIssued_iI_c20231231_zA8q0cWi2zxf" style="text-align: right" title="Current, convertible debt">227,092</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_983_ecustom--LongTermNetDebt_iI_c20231231_zIKAgll4gt72" style="border-bottom: Black 1pt solid; text-align: right" title="Long-term, convertible debt">10,102,627</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zDMniNDD7fGg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 123095 163000 0.10 1.00 1.25 0.60 0.75 81956 81956 <p id="xdx_89A_eifrs-full--DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory_zVwIZmEWNsM3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the conversion features was determined based on the Black-Scholes Option Pricing Model using the following weighted average assumptions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zBxC6MDBXIJ1" style="display: none">Schedule of Fair Value Assumptions of Conversion Features</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: right">2020</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: justify">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_900_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20201231__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember__ifrs-full--UnobservableInputsAxis__ifrs-full--InterestRateMeasurementInputMember_zTKHBppaKTD6" title="Dividend yield">0.13</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20200101__20201231__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember_zrmCO88jgNH1" title="Expected life (years)">1.01</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20201231__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember_zBOJ9NSe0AUl" title="Dividend yield">228</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Dividend yield</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20201231__ifrs-full--BorrowingsByNameAxis__custom--UnbrokeredPrivatePlacementOfConvertibleDebtMember__ifrs-full--UnobservableInputsAxis__custom--DividendYieldMeasurementInputMember_zaAoXSEVvV3f" title="Dividend yield">0</span></td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> 0.13 P1Y3D 228 0 0.60 0.45 0.375 0.30 <p id="xdx_89E_eifrs-full--MaturityAnalysisForDerivativeFinancialLiabilities_zpKDKuSmKkB9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A continuity of convertible debt and the embedded derivative conversion feature for the year ended December 31, 2022 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_z9tVv6UdpSv7" style="display: none">Schedule of Convertible Debt and Embedded Derivative Conversion </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Host debt <br/>instrument</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Embedded <br/> conversion <br/> feature</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Balance, January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_909_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_zHuMW9cPfqT2" title="Beginning Balance">11,027</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90B_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--EmbeddedConversionFeatureMember_znyGI2fL0L1e" title="Beginning Balance">80,342</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_900_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--TotalMember_zGlamcD2BSUe" title="Beginning Balance">91,369</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--AccretionExpenses_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_zbN7447rdoHi" title="Accretion">19,943</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--AccretionExpenses_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--EmbeddedConversionFeatureMember_zuTG30fNOWea"><span style="-sec-ix-hidden: xdx2ixbrl2729">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--AccretionExpenses_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--TotalMember_zBHWJ8ZawQ6g" title="Accretion">19,943</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Conversion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90E_ecustom--Conversion_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_zsMfinStjrxb" title="Conversion">(30,970</span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_ecustom--Conversion_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--EmbeddedConversionFeatureMember_zoK4nYFcqNcc">(80,342</span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_ecustom--Conversion_c20210101__20211231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--TotalMember_znJmGpcnsSpk" title="Conversion">(111,312</span></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2021 &amp; December 31, 2022</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_zDVC4LVf8MI" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2738">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--EmbeddedConversionFeatureMember_zgH62Vk3vNe9" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2740">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iS_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--TotalMember_ziFkwzFrnPk4" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2742">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_ecustom--AccretionExpenses_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_z8LcjPmy5Sdj" title="Accretion"><span style="-sec-ix-hidden: xdx2ixbrl2744">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2021 &amp; December 31, 2022</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iE_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--HostDebtInstrumentMember_zDsRfrlEz0qg" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2746">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iE_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--EmbeddedConversionFeatureMember_zPLsZ280Nivd" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2748">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_eifrs-full--DerivativeFinancialLiabilitiesHeldForHedging_iE_c20220101__20221231__ifrs-full--TypesOfFinancialLiabilitiesAxis__custom--TotalMember_zZiNAsI6tI16" title="Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl2750">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 11027 80342 91369 19943 19943 -30970 -80342 -111312 15000 1000 15000000 11135145 1000 742 333 2.50 1.86 2025-06-29 April 30, 2025 0.12 1.05 3.00 2.23 1045000 775748 300000 2.50 2025-04-20 216777 0.0377 1.0096 0 P2Y 0.16 <p id="xdx_89E_eifrs-full--DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory_hifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantReserveMember_zvOaEkYnY5ii" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The relative fair value of the warrants and conversion features were determined using the Black-Scholes Option Pricing Model using the assumptions set out as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zgGb7JuRW9v5" style="display: none">Schedule of Fair Value Assumptions of Conversion Features</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">April 20, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: justify">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_90A_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--InterestRateMeasurementInputMember_zIEwz9qwlg95" title="Warrant inputs">3.86</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zeZGqVB8eCqh" title="Warrant inputs">101.71</span> – <span id="xdx_907_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_znp5FykYj98d" title="Warrant inputs">119.94</span></span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--DividendYieldMeasurementInputMember_zKKyGCCDhRRk" title="Warrant inputs">0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Expected life</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20230420__20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zgU4eoUn9FA" title="Expected life (years)">2.03</span>– <span id="xdx_909_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20230420__20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_z1UiY4gWMeJk" title="Expected life (years)">2.19</span> years</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 3.86 101.71 119.94 0 P2Y10D P2Y2M8D <p id="xdx_891_ecustom--DisclosureOfConvertibleDebtExplanatory_z1jKARQcjqhc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A continuity schedule of the Company’s convertible debt is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zPvBRkzGhcUi" style="display: none">Schedule of Convertible Debt</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify"></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; text-align: left"></td><td id="xdx_49F_20230101__20231231_zunn8TZjJQMi" style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40B_eifrs-full--NetDebt_iS_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Balance as at January 1, 2023</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2820">-</span></td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--IssueOfConvertibleInstruments_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: justify">Issued</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">11,135,145</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--TransactionCosts_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(992,525</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--TransactionCostsAllocatedToEquity_zsdotIK9Gzba" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Transaction costs allocated to equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">77,086</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RelativeFairValueOfConversionFeature_zPqkpVGd2jw3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Relative fair value of conversion feature</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(369,181</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--RelativeFairValueOfWarrants_zm2qrBHNSuEd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Relative fair value of Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(495,653</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eifrs-full--RepaymentsOfCurrentBorrowings_iN_di_zWe9bbX9kdFl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Repayment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(709,022</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--AccretionExpenses_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">578,675</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--InterestExpense_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">931,962</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--CurrencyTranslationAdjustment_zZ7vBT1Gv0yc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">173,232</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--NetDebt_iE_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance as at December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">10,329,719</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Current</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eifrs-full--CurrentDebtInstrumentsIssued_iI_c20231231_zA8q0cWi2zxf" style="text-align: right" title="Current, convertible debt">227,092</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_983_ecustom--LongTermNetDebt_iI_c20231231_zIKAgll4gt72" style="border-bottom: Black 1pt solid; text-align: right" title="Long-term, convertible debt">10,102,627</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 11135145 -992525 77086 -369181 -495653 709022 578675 931962 173232 10329719 227092 10102627 <p id="xdx_80D_ecustom--DisclosureOfAssetRetirementObligationsExplanatory_zfh8n9kITBJ9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_827_zGzyQUSWQXw7">Asset Retirement Obligation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_ecustom--DisclosureOfContinuityAssetRetirementObligationsExplanatory_zP9B9kZFqCb2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a continuity of the Company’s asset retirement obligations:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_zf3Y6gGvaqsl" style="display: none">Schedule of Asset Retirement Obligations</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230101__20231231_zPREAaQ08m4k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20220101__20221231_zeOf9UVnbVae" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20210101__20211231_zWyddS8c2ff8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--AssetRetirementObligations_iS_zn45hWDZ9fVa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Beginning balance</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">5,316,470</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">8,993,108</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">9,355,422</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AssetRetirementObligationAddition_z9APhh4T1yZ6" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">797,102</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2855">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2856">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--AssetRetirementObligationAccretionExpenses_zPeqNqvJ7n1b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accretion expense</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">219,536</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">264,075</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,982</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--AssetRetirementObligationImpactOfHyperinflation_zG7MBF19UNl2" style="vertical-align: bottom; background-color: White"> <td>Impact of hyperinflation</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(599,096</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(69,379</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2864">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AssetRetirementObligationCurrencyTranslationAdjustment_zhx8WyFe3ag4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">603,856</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2867">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2868">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AssetRetirementObligationRevisionOfEstimates_zlSleMCBHqLl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in estimate</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(90,841</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,871,334</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(454,296</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--AssetRetirementObligations_iE_zBkPDn41gdjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6,247,027</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">5,316,470</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">8,993,108</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zi2mF8fubMz6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s asset retirement obligations (“ARO”) result from its interest in oil and gas assets including well sites. The total ARO is estimated based on the Company’s net ownership interest in all sites, estimated costs to reclaim and abandon these wells and the estimated timing of the costs to be included in future years. The Company estimated the total undiscounted amount required to settle the ARO as at December 31, 2023 is $<span id="xdx_907_ecustom--UndiscountedAmountRequiredToSettleAssetRetirementObligation_iI_pn5n6_c20231231_zG8oVJaYZIf6" title="Undiscounted amount">16.5</span> million (December 31, 2022 - $<span id="xdx_905_ecustom--UndiscountedAmountRequiredToSettleAssetRetirementObligation_iI_pn5n6_c20221231_zKV7dM6ZLk06" title="Undiscounted amount">10.6</span> million and December 31, 2021 - $<span id="xdx_90A_ecustom--UndiscountedAmountRequiredToSettleAssetRetirementObligation_iI_pn5n6_c20211231_z7i3toPk9Bsa" title="Undiscounted amount">10.3</span> million). The ARO is calculated using an inflation rate of <span id="xdx_901_ecustom--ExpectedRatesOfInflation_iI_pid_dp_uPure_c20231231_zkVAM1y12HO2" title="Inflation interest rate">2.5%</span> (December 31, 2022 and 2021 – <span id="xdx_900_ecustom--ExpectedRatesOfInflation_iI_pid_dp_uPure_c20221231_zJsq7nuDczhl" title="Inflation interest rate"><span id="xdx_906_ecustom--ExpectedRatesOfInflation_iI_pid_dp_uPure_c20211231_zZrCyJo6j2qa" title="Inflation interest rate">2.5%</span></span>) and discounted using a risk free rate of <span id="xdx_903_ecustom--DiscountedInterestFreeRate_iI_pid_dp_uPure_c20231231_z85LiUfzZEXh" title="Interest free rate">4%</span> (December 31, 2022 – <span id="xdx_906_ecustom--DiscountedInterestFreeRate_iI_pid_dp_uPure_c20221231_zRbh4Ejt6t2f" title="Interest free rate">3.91%</span> and December 31, 2021 – <span id="xdx_907_ecustom--DiscountedInterestFreeRate_iI_pid_dp_uPure_c20211231_zGIEEvyOosO3" title="Interest free rate">1.49%</span>) between <span id="xdx_90B_ecustom--AssetRetirementObligationsYears_dtY_c20230101__20231231__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_znEpFUejG7yj" title="Asset retirement obligations years">10</span> and <span id="xdx_90A_ecustom--AssetRetirementObligationsYears_dtY_c20230101__20231231__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_znHtzbKP1brj" title="Asset retirement obligations years">20</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2023, the Company and TPAO agreed to establish a close out-fund (the “Close-Out Fund”) in a US dollar bank account. The amounts accumulated in the Close-Out Fund will not be used for any purpose other than to cover the cost of close-out of the SASB project. The US dollar bank account is held by TPAO. Starting with the July 2023 natural gas revenue, each party agreed to transfer <span id="xdx_900_ecustom--NaturalGasRevenueDepositPercentage_iI_pid_dp_c20231231_zVRXtFE9Iw4l" title="Natural gas revenue deposit percentage">10% </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of its revenue into the Close-Out Fund on a monthly basis, until an amount agreed to by both parties is attained. The Company accounted for its share in the Close-Out Fund as a long-term deposit (Note 4). As at December 31, 2023, the Company share of the Close-Out Fund amounted to $<span id="xdx_900_eifrs-full--DepositsFromBanks_iI_c20231231_z0mlkzocoAff">371,124</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_ecustom--DisclosureOfContinuityAssetRetirementObligationsExplanatory_zP9B9kZFqCb2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a continuity of the Company’s asset retirement obligations:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_zf3Y6gGvaqsl" style="display: none">Schedule of Asset Retirement Obligations</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230101__20231231_zPREAaQ08m4k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20220101__20221231_zeOf9UVnbVae" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20210101__20211231_zWyddS8c2ff8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--AssetRetirementObligations_iS_zn45hWDZ9fVa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Beginning balance</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">5,316,470</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">8,993,108</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">9,355,422</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AssetRetirementObligationAddition_z9APhh4T1yZ6" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">797,102</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2855">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2856">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--AssetRetirementObligationAccretionExpenses_zPeqNqvJ7n1b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accretion expense</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">219,536</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">264,075</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,982</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--AssetRetirementObligationImpactOfHyperinflation_zG7MBF19UNl2" style="vertical-align: bottom; background-color: White"> <td>Impact of hyperinflation</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(599,096</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(69,379</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2864">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AssetRetirementObligationCurrencyTranslationAdjustment_zhx8WyFe3ag4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">603,856</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2867">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2868">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AssetRetirementObligationRevisionOfEstimates_zlSleMCBHqLl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in estimate</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(90,841</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,871,334</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(454,296</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--AssetRetirementObligations_iE_zBkPDn41gdjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6,247,027</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">5,316,470</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">8,993,108</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 5316470 8993108 9355422 797102 219536 264075 91982 -599096 -69379 603856 -90841 -3871334 -454296 6247027 5316470 8993108 16500000 10600000 10300000 0.025 0.025 0.025 0.04 0.0391 0.0149 P10Y P20Y 0.10 371124 <p id="xdx_807_ecustom--DisclosureOfNotesAndAmountsReceivableForEquityIssuedExplanatory_zarSFXOJXqoe" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_828_znurCJRe0Fr8">Notes and Amounts Receivable for Equity Issued</span></b></span></p> <p id="xdx_89A_eifrs-full--DisclosureOfTradeAndOtherReceivablesExplanatory_zDGvXCgF2lK1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BB_zd7TfmLoizgl" style="display: none">Schedule of Notes and Amounts Receivable for the Equity Issued</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20231231_zWIjbtnJN4M1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20221231_z0TuACFIuSKf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20211231_zQixi2Cwf5gb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_ecustom--NotesReceivableForEquityIssued_iI_maNAARFzYuF_z44PAqwaqL13" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Notes receivable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">97,907</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,000,122</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,158,832</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AmountsReceivableForEquityIssued_iI_maNAARFzYuF_zk7Mcgpulhp4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amounts receivable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">15,402</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">61,940</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">34,809</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--NotesAndAmountsReceivableForEquityIssued_iTI_mtNAARFzYuF_zQMFWRs1MTIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">113,309</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,062,062</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,193,641</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zLsNE3Okl8e8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The notes receivable bear interest at <span id="xdx_90A_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20210930_zxvSgoS5w0ji" title="Interest rate"><span id="xdx_906_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230731_ztklXrJiJlCc" title="Interest rate">5%</span></span> and are due between September 30, 2021, and July 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2021, the Company entered into agreements with certain warrant and option holders for the following notes receivables as consideration for the exercise of warrants and options:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 31, 2021, the Company entered into a promissory note agreement with a principal sum of $<span id="xdx_90F_eifrs-full--DebtSecurities_iI_uCAD_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_zkJU9yr1C2v" title="Principal amount">60,000</span> CAD ($<span id="xdx_909_eifrs-full--DebtSecurities_iI_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_zbuJc47oIwOk" title="Principal amount">48,087 </span>USD) with a maturity date of <span id="xdx_907_eifrs-full--BorrowingsMaturity_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_zD890uUTTay9" title="Maturity date">September 30, 2021</span> as consideration for the exercise of <span id="xdx_902_ecustom--NumberOfWarrantsExercised_iI_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_zRirHjKXwHB1" title="Number of warrants exercised">100,000</span> warrants at approximately $<span id="xdx_908_eifrs-full--WeightedAverageSharePrice2019_pid_uCADPShares_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_zlrqOFA45oVi" title="Share price">0.60</span> CAD ($<span id="xdx_90D_eifrs-full--WeightedAverageSharePrice2019_pid_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_z0rS7oLW4bKf" title="Share price">0.50</span> USD).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 31, 2021, the Company entered into promissory note agreements with a principal sum of $<span id="xdx_904_eifrs-full--DebtSecurities_iI_uCAD_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteOneMember_zWAIpleoiR48" title="Principal amount">90,000</span> CAD ($<span id="xdx_906_eifrs-full--DebtSecurities_iI_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteOneMember_zqs1LwjA511h" title="Principal amount">72,131</span> USD) with a maturity date of <span id="xdx_907_eifrs-full--BorrowingsMaturity_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteOneMember_zxU2UNJwQaHi" title="Maturity date">November 30, 2021</span> as consideration for the exercise of <span id="xdx_904_ecustom--NumberOfWarrantsExercised_iI_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteOneMember_zbx83hqbKxAj" title="Number of warrants exercised">150,000</span> warrants at approximately $<span id="xdx_90F_eifrs-full--WeightedAverageSharePrice2019_pid_uCADPShares_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteOneMember_zF50W1XLdmll" title="Share price">0.60</span> CAD ($<span id="xdx_902_eifrs-full--WeightedAverageSharePrice2019_pid_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteOneMember_zw4SRBeAOBjl" title="Share price">0.50</span> USD).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 31, 2021, the Company entered into promissory note agreements with a principal sum of $<span id="xdx_905_eifrs-full--DebtSecurities_iI_uCAD_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteTwoMember_zgVnoqdtBIOl" title="Principal amount">78,000</span> CAD ($<span id="xdx_906_eifrs-full--DebtSecurities_iI_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteTwoMember_zCQvmdS3uqoi" title="Principal amount">62,513</span> USD) with a maturity date of <span id="xdx_90F_eifrs-full--BorrowingsMaturity_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteTwoMember_zNUXWcr2oQA" title="Maturity date">December 31, 2021</span> as consideration for the exercise of <span id="xdx_90D_ecustom--NumberOfWarrantsExercised_iI_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteTwoMember_zpmaIrM3gQXh" title="Number of warrants exercised">130,000</span> warrants at approximately $<span id="xdx_90D_eifrs-full--WeightedAverageSharePrice2019_pid_uCADPShares_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteTwoMember_zb4mznc3qAqk" title="Share price">0.60</span> CAD ($<span id="xdx_907_eifrs-full--WeightedAverageSharePrice2019_pid_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteTwoMember_zd6UrGbvbcbl" title="Share price">0.50</span> USD).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 31, 2021, the Company entered into promissory note agreements with a principal sum of $<span id="xdx_906_eifrs-full--DebtSecurities_iI_uCAD_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteThreeMember_zUoYu2pu8Gt8" title="Principal amount">307,200</span> CAD ($<span id="xdx_90D_eifrs-full--DebtSecurities_iI_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteThreeMember_zWmZ3qLACuH9" title="Principal amount">246,206</span> USD) with a maturity date of <span id="xdx_902_eifrs-full--BorrowingsMaturity_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteThreeMember_zMmpeq3Jhgtc" title="Maturity date">July 28, 2023</span> as consideration for the exercise of <span id="xdx_905_ecustom--NumberOfWarrantsExercised_iI_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteThreeMember_zdQvcCBqVtyc" title="Number of warrants exercised">512,000</span> warrants at approximately $<span id="xdx_900_eifrs-full--WeightedAverageSharePrice2019_pid_uCADPShares_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteThreeMember_z66Q7zykDrOh" title="Share price">0.60</span> CAD ($<span id="xdx_903_eifrs-full--WeightedAverageSharePrice2019_pid_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteThreeMember_z57uNMGt2A64" title="Share price">0.50</span> USD).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 31, 2021, the Company entered into promissory note agreements with a principal sum of $<span id="xdx_901_eifrs-full--DebtSecurities_iI_uCAD_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_zFB6dMDaGgt3" title="Principal amount">360,000</span> CAD ($<span id="xdx_908_eifrs-full--DebtSecurities_iI_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_zdWahIhZHCX3" title="Principal amount">288,523</span> USD) with a maturity date of <span id="xdx_908_eifrs-full--BorrowingsMaturity_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_z3FkABWoagSl" title="Maturity date">July 31, 2023</span> as consideration for the exercise of <span id="xdx_903_ecustom--NumberOfWarrantsExercised_iI_c20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_z1fb4udZ8sP2" title="Number of warrants exercised">600,000</span> warrants at approximately $<span id="xdx_900_eifrs-full--WeightedAverageSharePrice2019_pid_uCADPShares_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_zRD0Y48cRdnc" title="Share price">0.60</span> CAD ($<span id="xdx_901_eifrs-full--WeightedAverageSharePrice2019_pid_c20210730__20210731__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_zKQmHvS80OTe" title="Share price">0.50</span> USD). During the year ended December 31, 2022, $<span id="xdx_90E_eifrs-full--DebtSecurities_iI_uCAD_c20221231__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_zKGCViqAy4f9" title="Principal amount">147,065</span> CAD ($<span id="xdx_909_eifrs-full--DebtSecurities_iI_c20221231__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_z17mh7mDQomh" title="Principal amount">136,611</span> USD) in principal was repaid. $<span id="xdx_904_eifrs-full--NotionalAmount_iI_uCAD_c20221231__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_zEuh5A0fwED7" title="Principal amount">30,000</span> CAD ($<span id="xdx_905_eifrs-full--NotionalAmount_iI_c20221231__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_zI0ONHgAF6Yc" title="Principal amount">22,099</span> USD) in principal and interest receivable of $<span id="xdx_901_eifrs-full--CurrentInterestReceivable_iI_uCAD_c20221231__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_zcbT2YSaNWE8" title="Interest receivable">8,427</span> CAD ($<span id="xdx_90B_eifrs-full--CurrentInterestReceivable_iI_c20221231__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteFourMember_zMNAKtPXVxD2" title="Interest receivable">4,839</span> USD) was written off.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 10, 2021, the Company entered into promissory note agreements with a principal sum of $<span id="xdx_902_eifrs-full--DebtSecurities_iI_uCAD_c20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_zbdZPOmnEeT1" title="Principal amount">594,321</span> CAD ($<span id="xdx_900_eifrs-full--DebtSecurities_iI_c20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_zJnaWKFlv1q5" title="Principal amount">467,089</span> USD) with a maturity date of <span id="xdx_90F_eifrs-full--BorrowingsMaturity_c20211110__20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_zf85CtkdM5Q" title="Maturity date">November 10, 2022</span> as consideration for the exercise of <span id="xdx_904_ecustom--NumberOfWarrantsExercised_iI_c20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_z5dQKx29Z0ul" title="Number of warrants exercised">943,333</span> warrants with exercise prices ranging from approximately $<span id="xdx_90F_eifrs-full--WeightedAverageSharePrice2019_pid_uCADPShares_c20211110__20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zUhTUeh5o1nl" title="Share price">0.60</span> CAD - $<span id="xdx_90D_eifrs-full--WeightedAverageSharePrice2019_pid_uCADPShares_c20211110__20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_z620U1Hvxcvk" title="Share price">0.60</span> CAD ($<span id="xdx_906_eifrs-full--WeightedAverageSharePrice2019_pid_c20211110__20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_ztIbhti4MgC8" title="Share price">0.40</span> USD - $<span id="xdx_906_eifrs-full--WeightedAverageSharePrice2019_pid_c20211110__20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zMJ82hnTUvTf" title="Share price">0.50</span> USD), and <span id="xdx_90E_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20211110__20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember_zAu2SFuEap5k" title="Number of options exercised">362,000</span> options with exercise prices ranging from approximately $<span id="xdx_907_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_pid_uCADPShares_c20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zVL5XITflI7g" title="Options exercise price">0.40</span> CAD - $<span id="xdx_907_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_pid_uCADPShares_c20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zoBuf8v5NbB5" title="Options exercise price">0.75</span> CAD ($<span id="xdx_904_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_pid_c20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z8ESJlYmsbU6" title="Options exercise price">0.30</span> USD - $<span id="xdx_90A_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_pid_c20211110__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementMember__ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis__custom--PromissoryNoteMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zVbCL61xTmf8" title="Options exercise price">0.60</span> USD).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes and Amounts Receivable for Equity Issued (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amounts receivable are non-interest bearing and due on demand.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_ecustom--DisclosureOfPromissoryNoteReceivableExplanatory_zU1QlPtxmAHc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a continuity of the Company’s notes and other receivables:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zIFOQR5HaGM2" style="display: none">Schedule of Note and Other Receivable</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis_custom--NotesReceivablesMember_zqwrTMPnv096" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>receivable</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B0_ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis_custom--AmountsReceivableMember_z4bhWO2E3AK9" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amounts</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>receivable</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B5_zOoLsH9boGJ8" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_43F_c20210101__20211231_eifrs-full--NotesAndDebenturesIssued_iS_zycJl9JKt8ml" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Balance, January 1, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3023">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3024">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3025">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--ProceedsFromIssueOfBondsNotesAndDebentures_zKu0aEA3Dxn3" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify">Additions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,184,549</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">34,809</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,219,358</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--RepaymentsOfBondsNotesAndDebentures_iN_di_z5x6R6GqCgo1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,745</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3032">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,745</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--AccruedInterest_iI_zEqFDiAq5F5e" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3036">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,733</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--ForeignExchangeLoss_iN_di_z0SGn2ZJDt62" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Foreign exchange loss on revaluation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,705</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3040">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,705</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43B_c20220101__20221231_eifrs-full--NotesAndDebenturesIssued_iS_z5v9RcAQvyA6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Balance, December 31, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,158,832</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">34,809</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,193,641</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--ProceedsFromIssueOfBondsNotesAndDebentures_zpfKArtZw6W5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3047">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,659</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,659</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--RepaymentsOfBondsNotesAndDebentures_iN_di_zQQnanRoasL5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(136,611</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,528</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(161,139</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--NotesAndAmountsReceivableForEquityIssuedWriteoff_iN_di_zSJTq1060deb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Write-off</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(22,099</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3056">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(22,099</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43C_c20230101__20231231_eifrs-full--NotesAndDebenturesIssued_iS_zffpFx1awzUk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Balance, December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,940</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,062,062</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20230101__20231231_eifrs-full--NotesAndDebenturesIssued_iS_zLNBdMpVbXEd" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000,122</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">61,940</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,062,062</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_404_eifrs-full--RepaymentsOfBondsNotesAndDebentures_iN_di_zhEBGxf9NCP2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(297,678</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,228</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(333,906</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--SettledThroughRepurchase_zxqkjHxs8tt3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Settled through RSU repurchase (Note 18)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(604,537</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3072">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(604,537</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--NotesAndAmountsReceivableForEquityIssuedWriteoff_iN_di_zYbMTSBlhl5k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Write-off</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3075">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,310</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,310</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_437_c20230101__20231231_eifrs-full--NotesAndDebenturesIssued_iE_zNrmwvRI5Lv1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">97,907</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">15,402</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">113,309</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43B_c20230101__20231231_eifrs-full--NotesAndDebenturesIssued_iE_za4edNYrhyf5" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">97,907</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,402</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">113,309</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p id="xdx_8A8_ztUjhyh88uQa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the interest income totaled $<span id="xdx_907_ecustom--AccruedInterestIncome_c20230101__20231231_zsxznsHoC3Fa" title="Accrued interest income">16,373</span> (2022 - $<span id="xdx_906_ecustom--AccruedInterestIncome_c20220101__20221231_zV0CzVAuIZ5b" title="Accrued interest income">52,502</span> and 2021 - $<span id="xdx_909_ecustom--AccruedInterestIncome_dxL_c20210101__20211231_zmwjzsKFte0a" title="Accrued interest income::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl3091">Nil</span></span>). As at December 31, 2023, accrued interest of $<span id="xdx_909_eifrs-full--InterestReceivable_iI_c20231231_zW6140HBCjhg" title="Accrued interest">44,262</span> (December 31, 2022 - $<span id="xdx_90C_eifrs-full--InterestReceivable_iI_c20221231_z5N4MmORNKRg" title="Accrued interest">52,538</span>) was included in amounts receivable (Note 4). During the year ended December 31, 2023, $<span id="xdx_908_ecustom--CashRepayment_c20230101__20231231_zNNwKlZaL43e" title="Cash repayment">80,991</span> (2022 - $<span id="xdx_90A_ecustom--CashRepayment_c20220101__20221231_zwcmqcJdsse4" title="Cash repayment">136,611</span> and 2021 - $<span id="xdx_90E_ecustom--CashRepayment_c20210101__20211231_zgWo2vSK2k37" title="Cash repayment">23,745</span>) in cash repayments were made and $<span id="xdx_906_ecustom--RepaymentsOfNotes_c20230101__20231231_ztzROkbXqf4e" title="Repayment of account payable">252,915</span> (2022 – $<span id="xdx_902_ecustom--RepaymentsOfNotes_c20220101__20221231_zdVAePUSyLLb" title="Repayment of account payable">24,528</span>) repayments were made through reductions of accounts payable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <p id="xdx_89A_eifrs-full--DisclosureOfTradeAndOtherReceivablesExplanatory_zDGvXCgF2lK1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BB_zd7TfmLoizgl" style="display: none">Schedule of Notes and Amounts Receivable for the Equity Issued</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20231231_zWIjbtnJN4M1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20221231_z0TuACFIuSKf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20211231_zQixi2Cwf5gb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_ecustom--NotesReceivableForEquityIssued_iI_maNAARFzYuF_z44PAqwaqL13" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Notes receivable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">97,907</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,000,122</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,158,832</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AmountsReceivableForEquityIssued_iI_maNAARFzYuF_zk7Mcgpulhp4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amounts receivable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">15,402</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">61,940</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">34,809</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--NotesAndAmountsReceivableForEquityIssued_iTI_mtNAARFzYuF_zQMFWRs1MTIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">113,309</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,062,062</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,193,641</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 97907 1000122 1158832 15402 61940 34809 113309 1062062 1193641 0.05 0.05 60000 48087 September 30, 2021 100000 0.60 0.50 90000 72131 November 30, 2021 150000 0.60 0.50 78000 62513 December 31, 2021 130000 0.60 0.50 307200 246206 July 28, 2023 512000 0.60 0.50 360000 288523 July 31, 2023 600000 0.60 0.50 147065 136611 30000 22099 8427 4839 594321 467089 November 10, 2022 943333 0.60 0.60 0.40 0.50 362000 0.40 0.75 0.30 0.60 <p id="xdx_89F_ecustom--DisclosureOfPromissoryNoteReceivableExplanatory_zU1QlPtxmAHc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a continuity of the Company’s notes and other receivables:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zIFOQR5HaGM2" style="display: none">Schedule of Note and Other Receivable</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis_custom--NotesReceivablesMember_zqwrTMPnv096" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>receivable</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B0_ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis_custom--AmountsReceivableMember_z4bhWO2E3AK9" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amounts</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>receivable</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B5_zOoLsH9boGJ8" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_43F_c20210101__20211231_eifrs-full--NotesAndDebenturesIssued_iS_zycJl9JKt8ml" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Balance, January 1, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3023">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3024">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3025">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--ProceedsFromIssueOfBondsNotesAndDebentures_zKu0aEA3Dxn3" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify">Additions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,184,549</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">34,809</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,219,358</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--RepaymentsOfBondsNotesAndDebentures_iN_di_z5x6R6GqCgo1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,745</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3032">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,745</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--AccruedInterest_iI_zEqFDiAq5F5e" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3036">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,733</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--ForeignExchangeLoss_iN_di_z0SGn2ZJDt62" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Foreign exchange loss on revaluation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,705</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3040">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,705</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43B_c20220101__20221231_eifrs-full--NotesAndDebenturesIssued_iS_z5v9RcAQvyA6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Balance, December 31, 2021</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,158,832</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">34,809</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,193,641</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--ProceedsFromIssueOfBondsNotesAndDebentures_zpfKArtZw6W5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3047">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,659</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,659</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--RepaymentsOfBondsNotesAndDebentures_iN_di_zQQnanRoasL5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(136,611</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,528</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(161,139</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--NotesAndAmountsReceivableForEquityIssuedWriteoff_iN_di_zSJTq1060deb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Write-off</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(22,099</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3056">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(22,099</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43C_c20230101__20231231_eifrs-full--NotesAndDebenturesIssued_iS_zffpFx1awzUk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Balance, December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,940</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,062,062</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20230101__20231231_eifrs-full--NotesAndDebenturesIssued_iS_zLNBdMpVbXEd" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000,122</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">61,940</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,062,062</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_404_eifrs-full--RepaymentsOfBondsNotesAndDebentures_iN_di_zhEBGxf9NCP2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(297,678</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,228</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(333,906</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--SettledThroughRepurchase_zxqkjHxs8tt3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Settled through RSU repurchase (Note 18)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(604,537</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3072">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(604,537</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--NotesAndAmountsReceivableForEquityIssuedWriteoff_iN_di_zYbMTSBlhl5k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Write-off</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3075">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,310</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,310</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_437_c20230101__20231231_eifrs-full--NotesAndDebenturesIssued_iE_zNrmwvRI5Lv1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">97,907</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">15,402</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">113,309</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43B_c20230101__20231231_eifrs-full--NotesAndDebenturesIssued_iE_za4edNYrhyf5" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">97,907</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,402</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">113,309</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> 1184549 34809 1219358 23745 23745 17733 17733 19705 19705 1158832 34809 1193641 51659 51659 136611 24528 161139 22099 22099 1000122 61940 1062062 1000122 61940 1062062 297678 36228 333906 -604537 -604537 10310 10310 97907 15402 113309 97907 15402 113309 16373 52502 44262 52538 80991 136611 23745 252915 24528 <p id="xdx_80C_eifrs-full--DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_zxdKzCdcZqQc" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_822_z1DKc438iwu4">Common Stock</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has an unlimited number of common shares authorized with <span id="xdx_908_eifrs-full--ParValuePerShare_iI_do_c20231231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_z9HU9CIGVRGd" title="Par value">no</span> par value. As at December 31, 2023, <span id="xdx_909_eifrs-full--NumberOfSharesOutstanding_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_zNsvPtlB2mtc" title="Shares outstanding">115,250,810</span> common shares were issued and outstanding (December 31, 2022 –<span id="xdx_90F_eifrs-full--NumberOfSharesOutstanding_iI_c20221231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_zpyPHbspx78h" title="Shares outstanding"> 76,775,071</span> and December 31, 2021 – <span id="xdx_90D_eifrs-full--NumberOfSharesOutstanding_iI_c20211231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_zqfTx5CtH7Mh" title="Shares outstanding">37,033,919</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>For the year ended December 31, 2023</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 28, 2023, the Company completed a short form prospectus, issuing <span id="xdx_90E_eifrs-full--NumberOfSharesIssued_iI_uShares_c20231128__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zJsa6ZFgisag">36,057,934</span> common shares of the Company at a price of CAD$<span id="xdx_90D_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20231128__20231128__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zzJLifhThhBf">0.30</span>(approximately USD$<span id="xdx_909_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20231128__20231128__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zlCQeGIX0ubb">0.22</span>) per common share for aggregate gross proceeds of CAD$<span id="xdx_903_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20231128__20231128__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zZ4yNzBoAY6j">10,817,380</span> (approximately USD$<span id="xdx_909_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20231128__20231128__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zBdXF9VuKxqb">7,960,687</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash finder’s fee of CAD$<span id="xdx_908_eifrs-full--PaymentsForShareIssueCosts_pp0p0_uCAD_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--CashFindersFeeMember_zVEa4K6yNY1g" title="Payment of cash finder's fee">737,934</span> (USD$<span id="xdx_90B_eifrs-full--PaymentsForShareIssueCosts_pp0p0_uUSD_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--CashFindersFeeMember_zbCjlr8Gl6n3">543,057</span>) were paid and <span id="xdx_905_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_zH11Z846SZp9" title="Number of warrants, Issued">2,101,726</span> finder’s warrants were issued. The finder’s warrants are exercisable to purchase one common share of the Company at an exercise price of CAD$<span id="xdx_900_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20231128__20231128__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zktnRqtXSZt3">0.30</span> (approximately USD$<span id="xdx_908_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20231128__20231128__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zxwzI9GJcc84">0.22</span>) until November 28, 2025. The finder’s warrants issued have a fair value of CAD$<span id="xdx_901_ecustom--NumberOfSharesIssuedAndFairValue_pp0p0_uCAD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_zXfbIU0YNUXg" title="Shares issued and fair value">353,288</span> (approximately USD$<span id="xdx_902_ecustom--NumberOfSharesIssuedAndFairValue_pp0p0_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_zbcbDIJXTjAa" title="Shares issued and fair value">259,955</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common Stock (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company issued <span id="xdx_90C_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--BorrowingsByNameAxis__custom--LiabilitiesMember_zYBqW7BVCjxh" title="Shares issued">150,000</span> shares with a fair value of $<span id="xdx_90A_eifrs-full--IssueOfEquity_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--LiabilitiesMember_zCajpzxvSr98" title="Fair value of share issued">212,632</span> to settle debt of $<span id="xdx_905_eifrs-full--NetDebt_iI_c20231231__ifrs-full--BorrowingsByNameAxis__custom--LiabilitiesMember_zccL8FOb09i8" title="Debt">195,290</span> and recognized a loss on the settlement of $<span id="xdx_90A_ecustom--LossOnIssuanceOfDebt_iI_c20231231__ifrs-full--BorrowingsByNameAxis__custom--LiabilitiesMember_zbkTioFKx9pi" title="Loss on issuance of debt">17,342</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company issued <span id="xdx_907_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitMember_zoJ4vu9y8q78">1,762,805</span> shares for RSU’s which were granted and vested in previous periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, <span id="xdx_903_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantReserveMember_zZm24Q8F4se5" title="Proceeds from exercise of warrants">5,000</span> warrants with an exercise price of CAD$<span id="xdx_902_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantReserveMember_zlb3sj12iCM7" title="Exercise price per share">0.60 </span>(approximately USD$<span id="xdx_909_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uUSDPShares_c20231231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantReserveMember_zZO5jetLQPyh" title="Exercise price per share">0.44</span>) were exercised for gross proceeds of CAD$<span id="xdx_90D_eifrs-full--ProceedsFromIssuingShares_uCAD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantReserveMember_zPU2BKXjwnDl" title="Proceeds from shares issued">3,000</span> (USD$<span id="xdx_90D_eifrs-full--ProceedsFromIssuingShares_uUSD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantReserveMember_zEugjqQKO6Z1" title="Proceeds from shares issued">2,215</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company issued <span id="xdx_901_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--BorrowingsByNameAxis__custom--ServicesRenderedMember_zAezAQSZOMd4" title="Shares issued">60,000</span> shares valued at $<span id="xdx_90A_eifrs-full--IssueOfEquity_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--ServicesRenderedMember_zwI9T1xTQCCd" title="Fair value of share issued">29,299</span> for services rendered valued at $<span id="xdx_901_ecustom--ServicesRenderedAmount_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--ServicesRenderedMember_zZOk8ajgUPV4" title="Services rendered">11,957</span>. A $<span id="xdx_90B_ecustom--LossOnIssuanceOfDebt_iI_c20231231__ifrs-full--BorrowingsByNameAxis__custom--ServicesRenderedMember_zYAuTgnyga5e" title="Loss on issuance of debt">17,342</span> loss on the issuance of shares was recognized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company entered into a consulting agreement pursuant to which an obligation to issue shares valued at $<span id="xdx_900_eifrs-full--IssueOfEquity_c20230101__20231231__ifrs-full--TypesOfContractsAxis__custom--ConsultingAgreementMember_z7yyAeXY1zQ6" title="Fair value of share issued">18,873</span> was accrued. The obligation to issue shares relate to <span id="xdx_90F_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--TypesOfContractsAxis__custom--ConsultingAgreementMember_zYEewOTroike" title="Shares issued">100,000</span> shares owed as a signing bonus and <span id="xdx_904_ecustom--NumberOfSharesBonus_iI_c20231231__ifrs-full--TypesOfContractsAxis__custom--ConsultingAgreementMember_zQYaB1tYvQcb" title="Shares bonus">25,000</span> shares owed relating to services rendered.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company issued shares for the exercise of options as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zJCdhq7FNsf3">40,000</span> common shares for the exercise of <span id="xdx_905_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zHQbQYKqTWN3">40,000</span> options at CAD$<span id="xdx_904_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zSMLnTRoGoq8">0.75 </span>(approximately USD$<span id="xdx_90A_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_z16LGCx5jHI2">0.55</span>) for cash proceeds of CAD$<span id="xdx_903_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zbsYTLl5HQbh">30,000</span> (USD$<span id="xdx_902_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zOuvZfrkifag">21,872</span>). As a result, $<span id="xdx_903_eifrs-full--WarrantReserve_iI_c20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zkzOGWlw6in6">18,475</span> was transferred from option reserves to share capital; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zqvqq602COj2">70,000</span> common shares for the exercise of <span id="xdx_90E_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zL1lRLzhJ7G1">70,000</span> options at CAD$<span id="xdx_909_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zB14B4KXFEb8">2.20</span> (approximately USD$<span id="xdx_90C_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zPWjSxxd4Qal">1.62</span>) for cash proceeds of CAD$<span id="xdx_905_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_ztvWQTOh4ond">154,000</span> (USD$<span id="xdx_908_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zbuBi5rxYkxj">113,717</span>). As a result, $<span id="xdx_90C_ecustom--WarrantAndOptionReserve_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zoffE5L6zr02">72,050</span> was transferred from option reserves to share capital.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zP1cS1PXd2x4">70,000</span> common shares for the exercise of <span id="xdx_907_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zu1nzpCA5eG">70,000</span> options at CAD$<span id="xdx_901_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zhwL95tyTY55">0.80</span> (approximately USD$<span id="xdx_906_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zCZr7qVmd6th">0.60</span>) for cash proceeds of CAD$<span id="xdx_909_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zDC0EVzJoW11">56,453</span> (USD$<span id="xdx_902_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zzRrmqxVQePl">42,000</span>). As a result, $<span id="xdx_90E_ecustom--WarrantAndOptionReserve_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zwPZOGGUgXle">35,174</span> was transferred from option reserves to share capital.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_z3PyBkuRQGW2">60,000</span> common shares for the exercise of <span id="xdx_906_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zP348An2weX7">60,000</span> options at CAD$<span id="xdx_906_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_z1BwWu8tfiR4">0.75</span> (approximately USD$<span id="xdx_903_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zcGl3tcAhp3b">0.56</span>) for cash proceeds of CAD$<span id="xdx_907_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_z2LxqEqhGNs5">45,000</span> (USD$<span id="xdx_903_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zTtSged1jR02">33,479</span>). As a result, $<span id="xdx_904_ecustom--WarrantAndOptionReserve_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_znLyuSOJSeYg">29,939</span> was transferred from option reserves to share capital.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zJE2Hjvr6T71">200,000</span> common shares for the exercise of <span id="xdx_90E_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zeNFE4ntMEle">200,000</span> options at CAD$<span id="xdx_904_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zMVRmAx82Fzi">2.20</span> (approximately USD$<span id="xdx_900_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zocPgI9sXOji">1.66</span>) for cash proceeds of CAD $<span id="xdx_905_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zESH4Oflb4wb">440,000</span> (USD$<span id="xdx_902_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_z3msphWvklX4">331,796</span>). As a result, $<span id="xdx_902_ecustom--WarrantAndOptionReserve_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zeIhD2y1bL35">273,583</span> was transferred from option reserves to share capital.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>For the year ended December 31, 2022</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, the Company issued shares for the exercise of warrants as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--NumberOfSharesIssued_iI_c20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_z34SZADylJJe">538,250</span> common shares for the exercise of <span id="xdx_901_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_zYKtiFDn2Fxa">538,250</span> warrants at CAD$<span id="xdx_907_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_z2LkvIcFUYb2">0.50</span> (approximately USD$<span id="xdx_90C_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_zkPaxD0m62Ci">0.38</span>) for cash proceeds of CAD$<span id="xdx_905_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_zw4K0pAPVOs7">269,125</span> (USD$<span id="xdx_902_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_zPnCUYh01UV8">202,713</span>). As a result, $<span id="xdx_908_eifrs-full--WarrantReserve_iI_c20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_z67IOrWWDN81">336,464</span> was transferred from warrant reserves to common stock and share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eifrs-full--NumberOfSharesIssued_iI_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_z191CgeHQlU5">160,000</span> common shares for the exercise of <span id="xdx_908_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_zNZTpZALyrx9">160,000</span> warrants at CAD$<span id="xdx_90C_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_zjq7DvVIGHqf" title="Exercise price">0.50</span> (approximately USD$<span id="xdx_90A_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_z9qnG6OBdnKj">0.37</span>) In lieu of cash, the Company acquired prepaid services in the amount of $<span id="xdx_903_ecustom--ProceedsFromSharesIssued_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_zkGIo35G3G3a" title="Proceeds from shares issued">58,698</span>. As a result, $<span id="xdx_90A_eifrs-full--WarrantReserve_iI_uUSD_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_z6t8B939DEj">98,786</span> was transferred from warrant reserves to common stock and share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eifrs-full--NumberOfSharesIssued_iI_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_znEIYF7rmWp6">50,000</span> common shares for the exercise of <span id="xdx_90D_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zKQBdVlCavbe">50,000</span> warrants at CAD$<span id="xdx_900_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_z0R1g7BLZOB6" title="Exercise price">0.50</span> (approximately USD$<span id="xdx_904_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zOWxVGoeHe95">0.37</span>). In lieu of cash, debt owed to the equity holder was settled in the amount of CAD$<span id="xdx_90D_ecustom--ProceedsFromSharesIssued_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zsjaw9V35iM6" title="Proceeds from shares issued">10,949</span> (USD$<span id="xdx_90B_ecustom--ProceedsFromSharesIssued_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zZqJxTgwDW4j" title="Proceeds from shares issued">8,034</span>). Pursuant to the issuance, $<span id="xdx_90D_ecustom--WarrantAndOptionReserve_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zTzBQh93AwBe" title="Proceeds from shares issued">31,511</span> was transferred from warrant reserves to common stock and share premium. As at December 31, 2022, CAD$<span id="xdx_901_ecustom--ReceivablesForEquity_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zlhUuq4oN461" title="Receivables for equity">14,051</span> (USD$<span id="xdx_903_ecustom--ReceivablesForEquity_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zbj5SzQcF09d" title="Receivables for equity">10,310</span>) was recorded to receivables for equity issued for the remainder of the amount;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eifrs-full--NumberOfSharesIssued_iI_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zNqgZldThVDc">5,000</span> common shares for the exercise of <span id="xdx_907_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zTxV5nIrAdvi">5,000</span> warrants at CAD$<span id="xdx_90B_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zCH9cp2Rtxoa" title="Exercise price">0.60</span> (approximately USD$<span id="xdx_901_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zDF1pytU1A6c">0.44</span>) for cash proceeds of CAD$<span id="xdx_906_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_z9XmhxNp1kbf">3,000</span> (USD$<span id="xdx_902_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zjg0kXcQ4Lm">2,213</span>);</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common Stock (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eifrs-full--NumberOfSharesIssued_iI_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_zV27soJiQtca">49,000</span> common shares for the exercise of <span id="xdx_901_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_zvgJwJtnq2u5">49,000</span> warrants at CAD$<span id="xdx_903_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_z6jBQNVOFXc8" title="Exercise price">1.00</span> (approximately USD$<span id="xdx_90A_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_zF07ks7vYp6k">0.76</span>) for cash proceeds of CAD$<span id="xdx_907_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_zYzrsJCjS8a3">49,000</span> (USD$<span id="xdx_908_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_ziouMZM5jYs9">37,225</span>);</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eifrs-full--NumberOfSharesIssued_iI_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zTxFlffT58cc">550,000</span> common shares for the exercise of <span id="xdx_90C_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zL8N4Xu1gIX8">550,000</span> warrants at CAD$<span id="xdx_90A_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zMYkrKWueWq4" title="Exercise price">1.55</span> (approximately USD$<span id="xdx_905_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zP53iiLjDTya">1.15</span>) for cash proceeds of CAD$<span id="xdx_909_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_z4FhEQfIQgZ4">852,500</span> (USD$<span id="xdx_90D_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zll3dD5RcYK4">635,127</span>). As a result, $<span id="xdx_906_ecustom--WarrantAndOptionReserve_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zZQNObtLdwKg">467,968</span> was transferred from warrant reserves to common stock and share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eifrs-full--NumberOfSharesIssued_iI_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zsSs7PE3UJQ8">9,500</span> common shares for the exercise of <span id="xdx_90F_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zWQIEHsScon4">9,500</span> warrants at CAD$<span id="xdx_90B_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zebPT9QbTmD8">2.25</span> (approximately USD$<span id="xdx_902_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zreS7ih0rEbh">1.69</span>) for cash proceeds of CAD$<span id="xdx_905_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zitO9XyMrPsc">21,375</span> (USD$<span id="xdx_90C_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zNoG4eM3wfZd">16,101</span>). As a result, $<span id="xdx_908_ecustom--WarrantAndOptionReserve_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_ziBjgj0y7un7">1,159</span> was transferred from warrant reserves to common stock and share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eifrs-full--NumberOfSharesIssued_iI_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSevenMember_zAWKE1SbR8xl">221,616</span> common shares for the exercise of <span id="xdx_90B_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSevenMember_zJeqRBd3Tthg">221,616</span> warrants at $<span id="xdx_905_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSevenMember_zDeg5fro2bjj">0.39</span> for cash proceeds of $<span id="xdx_908_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSevenMember_zulmtrlapBSc">87,071</span>. As the warrants were liability classified, the fair value of the shares of $<span id="xdx_90F_eifrs-full--IssueOfEquity_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSevenMember_zt86FcmmmVt6">326,695</span> was transferred to share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eifrs-full--NumberOfSharesIssued_iI_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsEightMember_zgrKM0kU68ge">250,000</span> common shares for the exercise of <span id="xdx_90E_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsEightMember_zLVUyUnZzNSb">250,000</span> warrants at $<span id="xdx_90F_eifrs-full--ExercisePriceShareOptionsGranted2019_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsEightMember_zdCDWskdG5T8" title="Exercise price">0.40</span>. In lieu of cash, the Company acquired prepaid services in the amount of $<span id="xdx_90C_ecustom--ProceedsFromSharesIssued_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsEightMember_z9gZyk7ttnQ2" title="Proceeds from shares issued">100,000</span>. As the warrants were liability classified, the fair value of the shares of $<span id="xdx_90E_eifrs-full--IssueOfEquity_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsEightMember_zENQVoA2W9tc">121,604</span> was transferred to share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eifrs-full--NumberOfSharesIssued_iI_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsNineMember_zzLCV4S76JG8">152,000</span> common shares for the exercise of <span id="xdx_904_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsNineMember_zrpUS9YYF0Dd">152,000</span> warrants at $<span id="xdx_904_eifrs-full--ExercisePriceShareOptionsGranted2019_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsNineMember_zY0Fac6LB5gh" title="Exercise price">0.50</span> for cash proceeds of $<span id="xdx_90C_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsNineMember_ztBSqQpTneJ7" title="Proceeds from shares issued">67,797</span>. As the warrants were liability classified, the fair value of the shares of $<span id="xdx_900_eifrs-full--IssueOfEquity_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsNineMember_zjq1FRHxMQkf">164,025</span> was transferred to share premium; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eifrs-full--NumberOfSharesIssued_iI_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTenMember_zpVFvaaFrbkj">200,000</span> common shares for the exercise of <span id="xdx_904_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTenMember_zt9DCMa0NRI9">200,000</span> warrants at $<span id="xdx_905_eifrs-full--ExercisePriceShareOptionsGranted2019_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTenMember_zS9gCdhhXh47" title="Exercise price">0.80</span> for cash proceeds of $<span id="xdx_90E_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTenMember_zO80tAt0tMQ6" title="Proceeds from shares issued">160,000</span>. As the warrants were liability classified, the fair value of the shares of $<span id="xdx_90E_eifrs-full--IssueOfEquity_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTenMember_zz6gN2xEYwx3">210,627</span> was transferred to share premium.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, the Company issued shares for the exercise of options as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eifrs-full--NumberOfSharesIssued_iI_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zfTu9Vovi5c3">60,000</span> common shares for the exercise of <span id="xdx_908_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zYK8BmgKEAHl">60,000</span> options at CAD$<span id="xdx_908_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zTMziFDH1Uu7">0.40</span> (approximately USD$<span id="xdx_90D_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_z9PcWu4X7Gkf">0.29</span>) for cash proceeds of CAD$<span id="xdx_907_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zArULYgFoTS5">24,000</span> (USD$<span id="xdx_90F_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zNBRWc6Q2A0g">17,609</span>). As a result, $<span id="xdx_909_ecustom--WarrantAndOptionReserve_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zVIpEppzs7o4">16,557</span> was transferred from option reserves to common stock and share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eifrs-full--NumberOfSharesIssued_iI_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zYMHX3pTLfM">155,000</span> common shares for the exercise of <span id="xdx_904_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zEdiWOGAHsag">149,000</span> options at CAD$<span id="xdx_90F_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zYZOTVMEvyPh">0.50 </span>(approximately USD$<span id="xdx_909_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zuWqOHyeSO06">0.39</span>) for cash proceeds of CAD$<span id="xdx_90F_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zRbCNzQaVqG2">77,500</span> (USD$<span id="xdx_909_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zmLccWF0JcTb">58,751</span>). <span id="xdx_905_ecustom--CommonStockIssuedWereCancelled_iI_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zIpurfyOp4n">6,000</span> Common shares were issued in error. As a result, $<span id="xdx_908_ecustom--ShareOptionsCancelledInSharebasedPaymentArrangement_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zYp68HqHiCwh" title="Shares to be cancelled">2,322</span> was recorded in shares to be cancelled. Pursuant to the issuance, $<span id="xdx_909_ecustom--WarrantAndOptionReserve_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zaBFvRg89mn6">55,001</span> was transferred from option reserves to common stock and share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eifrs-full--NumberOfSharesIssued_iI_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zfteX8vhHQUk">50,000</span> common shares pursuant to the exercise of <span id="xdx_904_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zKBZjBkCJiV9">50,000</span> options at CAD$<span id="xdx_90B_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_ztrMhfOizg7l">0.50</span> (approximately USD$<span id="xdx_90B_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zbH7T4EKB0Pc">0.39</span>). In lieu of cash, debt in the amount of CAD$<span id="xdx_909_ecustom--ProceedsFromSharesIssued_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zatRXcMsaJ3" title="Proceeds from shares issued">25,000</span> (USD$<span id="xdx_90E_ecustom--ProceedsFromSharesIssued_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zDC7MJpBpUy8" title="Proceeds from shares issued">19,270</span>) was settled. Pursuant to the issuance, $<span id="xdx_909_ecustom--WarrantAndOptionReserve_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zctYV507YlSb">18,474</span> was transferred from option reserves to common stock and share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--NumberOfSharesIssued_iI_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zR5wOOK4Ywxd">330,000</span> common shares for the exercise of <span id="xdx_90C_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zVNI4GErewRh">330,000</span> options at CAD$<span id="xdx_90C_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zk7djCpmGmak">2.20</span> (approximately USD$<span id="xdx_90E_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_z0DQz23SqFMa">1.50</span>) for cash proceeds of CAD$<span id="xdx_90C_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_z9PFJbqbTxTg">726,000</span> (USD$<span id="xdx_900_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zXmKK179Cxf3">494,706</span>). As a result, $<span id="xdx_90E_ecustom--WarrantAndOptionReserve_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zOOpF0O7UcEf">341,584</span> was transferred from option reserves to common stock and share premium. As at December 31, 2022, CAD$<span id="xdx_905_ecustom--ReceivablesForEquity_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zdSX6hKk7eXl" title="Receivables for equity">56,000</span> (USD$<span id="xdx_90E_ecustom--ReceivablesForEquity_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zZPNvRSeF39i" title="Receivables for equity">41,349</span>) had not yet been received and was recorded to receivables for equity issued; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eifrs-full--NumberOfSharesIssued_iI_c20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zlwhPpfgwwu6">80,000</span> common shares pursuant to the exercise of <span id="xdx_906_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_z6fkbVziDtWh">80,000</span> options at $<span id="xdx_908_eifrs-full--ExercisePriceShareOptionsGranted2019_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zeAjPbDzAegg">0.60</span>. In lieu of cash, debt owed to the equity holders was settled in the amount of $<span id="xdx_903_ecustom--ProceedsFromSharesIssued_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zOfX7IBvYSQl" title="Proceeds from shares issued">48,000</span>. Pursuant to the issuance, $<span id="xdx_900_ecustom--WarrantAndOptionReserve_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zmZNPYovVhW">43,290</span> was transferred from option reserves to common stock and share premium.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2022, the Company issued <span id="xdx_906_eifrs-full--NumberOfSharesIssued_iI_c20220331__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_z0x8fBapUCJ2">21,331,588 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">units at CAD$<span id="xdx_90B_ecustom--ShareIssuedPricePerShare_iI_uCADPShares_c20220331__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zNoMjimcXMh9">0.825 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per unit for gross proceeds of CAD$<span id="xdx_908_ecustom--ProceedsFromSharesIssued_uCAD_c20220301__20220331__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zw1sWT3y5cUi">17,598,610 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(USD$<span id="xdx_902_ecustom--ProceedsFromSharesIssued_uUSD_c20220301__20220331__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zo6f88MdGmei">13,886,226</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">) pursuant to the closing of a non-brokered private placement. Each unit comprises one common share and one half of one share purchase warrant. Each whole warrant entitles the holder to purchase one common share for CAD$<span id="xdx_90F_ecustom--ShareIssuedPricePerShare_iI_pid_uCADPShares_c20220331__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_zKA6eTfE4v7" title="Share issued price per share">2.25</span> for two years from the date of the closing of the offering. As the fair value of the common shares on the same date exceeded the issuance price, no residual value was assigned to the warrants. Cash finder’s fee of CAD$<span id="xdx_905_eifrs-full--PaymentsForShareIssueCosts_pp0p0_uCAD_c20220301__20220331__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zJIYkXwa5Qn6" title="Payment of cash finder's fee">1,397,495</span> (USD$<span id="xdx_906_eifrs-full--PaymentsForShareIssueCosts_pp0p0_uUSD_c20220301__20220331__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zp9Jgmxkkgw8">1,108,790</span>) were paid and <span id="xdx_904_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20220301__20220331__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_zOeykbUTMquc" title="Number of warrants, Issued">1,501,357</span> finder’s warrants were issued with a fair value of $<span id="xdx_900_eifrs-full--IssueOfEquity_pp0p0_uCAD_c20220301__20220331__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_zUyMYDobRNX5" title="Fair value of share issued">994,775</span>. The finder’s warrants have the same terms as the warrants attached to the units. The Company also issued <span id="xdx_90C_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20220301__20220331__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--ProductsAndServicesAxis__custom--DebtSettlementMember_zrNxRIhj8jYd" title="Number of warrants, Issued">600,000</span> units for debt settlement of CAD$<span id="xdx_90B_eifrs-full--IssueOfEquity_pp0p0_uCAD_c20220301__20220331__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--ProductsAndServicesAxis__custom--DebtSettlementMember_z8DaMOVrkRgf" title="Fair value of share issued">495,000</span> (USD$<span id="xdx_904_eifrs-full--IssueOfEquity_pp0p0_uUSD_c20220301__20220331__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--ProductsAndServicesAxis__custom--DebtSettlementMember_zReGRfe15Wp6" title="Fair value of share issued">391,021</span>) under the same terms of the private placement financing with no loss or gain recognized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common Stock (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 1, 2022, the Company entered into a consulting agreement with a third party. Pursuant to the consulting agreement, the Company issued <span id="xdx_907_eifrs-full--NumberOfSharesIssued_iI_c20221102__ifrs-full--ProductsAndServicesAxis__custom--ConsultingServiceMember__ifrs-full--TypesOfContractsAxis__custom--ConsultingAgreementMember_zWD23BJ6v7pb" title="Shares issued">40,000</span> common shares on November 2, 2022 for the consulting services received in March 2022 with a fair value of $<span id="xdx_90F_eifrs-full--IssueOfEquity_c20220101__20221231__ifrs-full--ProductsAndServicesAxis__custom--ConsultingServiceMember__ifrs-full--TypesOfContractsAxis__custom--ConsultingAgreementMember_zpaGednIofu5" title="Fair value of share issued">51,208</span>. The amount of $<span id="xdx_904_eifrs-full--AdjustmentsForSharebasedPayments_c20220101__20221231__ifrs-full--ProductsAndServicesAxis__custom--ConsultingServiceMember__ifrs-full--TypesOfContractsAxis__custom--ConsultingAgreementMember_zdiIX6Vunxzl" title="Share-based compensation">51,208</span> was expensed and included in consulting services on the consolidated statements of loss and comprehensive loss for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 17, 2022, the Company issued <span id="xdx_904_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20220317__20220317__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--ProductsAndServicesAxis__custom--InvestorRelationMember_zmbrZfjmG4B1" title="Number of warrants, Issued">181,818</span> units for investor relations services from February to July 2022 valued at CAD$<span id="xdx_90F_eifrs-full--IssueOfEquity_pp0p0_uCAD_c20220317__20220317__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--ProductsAndServicesAxis__custom--InvestorRelationMember_zSHS9gl5T4ji">150,000</span> (USD$<span id="xdx_902_eifrs-full--IssueOfEquity_pp0p0_uUSD_c20220317__20220317__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--ProductsAndServicesAxis__custom--InvestorRelationMember_zjHCq2MkuVxg" title="Fair value of share issued">118,188</span>). The amount of CAD$<span id="xdx_90C_eifrs-full--AdjustmentsForSharebasedPayments_pp0p0_uCAD_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--ProductsAndServicesAxis__custom--InvestorRelationMember_zm3TqsO22SMg" title="Share-based compensation">150,000</span> (USD$<span id="xdx_904_eifrs-full--AdjustmentsForSharebasedPayments_pp0p0_uUSD_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--ProductsAndServicesAxis__custom--InvestorRelationMember_zFziJ55oXdWf" title="Share-based compensation">118,188</span>) was expensed and included in investor relations on the consolidated statements of loss and comprehensive loss for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, the Company issued <span id="xdx_909_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--VestingOfRestrictedStockUnitsMember_zOcaKrxulH7h" title="Number of warrants, Issued">220,000</span> shares, <span id="xdx_905_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--VestingOfRestrictedStockUnitsMember_zgTpbELN1oXk" title="Number of warrants, Issued">10,000</span> of which relate to the vesting of restricted stock units granted in 2021 and <span id="xdx_909_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--GrantingAndVestingOfRestrictedStockUnitsMember_zaMJ7pfr6xwf" title="Number of warrants, Issued">210,000</span> relating to the granting and vesting of restricted stock units during the year ended December 31, 2022. The value of the shares issued is $<span id="xdx_906_eifrs-full--IssueOfEquity_pp0p0_uCAD_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--GrantingAndVestingOfRestrictedStockUnitsMember_zGFjIUcSJ3u" title="Fair value of share issued">111,122</span>. $<span id="xdx_90D_eifrs-full--AdjustmentsForSharebasedPayments_pp0p0_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--VestingOfRestrictedStockUnitsMember_zHwlImefy8va" title="Share-based compensation">7,540</span> of the stock-based compensation was recorded in the prior year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 29, 2022, the Company completed a short form prospectus, issuing <span id="xdx_909_eifrs-full--NumberOfSharesIssued_iI_uShares_c20220629__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zJnjyy8QdSH3">14,507,380</span> units of the Company at a price of CAD$<span id="xdx_908_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20220629__20220629__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zrb3QmQ82Rac">1.55</span> (approximately USD$<span id="xdx_900_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20220629__20220629__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zks63LyZtraf">1.20</span>) per unit for aggregate gross proceeds of up to CAD$<span id="xdx_90A_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20220629__20220629__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zmKEWsCxb7xl">22,486,439</span> (approximately USD$<span id="xdx_90F_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20220629__20220629__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zQHDRJFRTTub">17,408,856</span>). Each unit consists of one common share of the Company and one half of one common share purchase warrant. Each warrant will be exercisable to purchase one common share of the Company at an exercise price of CAD$<span id="xdx_90C_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_uCADPShares_c20220629__20220629__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_zPApE2BUIQHk">2.50</span> (approximately USD$<span id="xdx_905_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_uUSDPShares_c20220629__20220629__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_z15PIjuzWYYe">1.95</span>) until June 29, 2025. A value of CAD$<span id="xdx_90F_ecustom--NumberOfShareOptionsGrantedResidualSharesInSharebasedPaymentArrangement_uCADPShares_c20220629__20220629__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_zUSX07vr0J0i" title="Warrant issued price per share">0.20</span> was allocated to each warrant based on the residual method.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash finder’s fee of CAD$<span id="xdx_90C_eifrs-full--PaymentsForShareIssueCosts_pp0p0_uCAD_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zQDkF5Ki1JN7" title="Payment of cash finder's fee">1,994,906</span> (USD$<span id="xdx_90A_eifrs-full--PaymentsForShareIssueCosts_pp0p0_uUSD_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zTf0iTU8Yiv7">1,549,196</span>) were paid and <span id="xdx_900_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_zmsOaDzXbCA7" title="Number of warrants, Issued">850,288</span> finder’s warrants were issued with a fair value of CAD$<span id="xdx_907_eifrs-full--IssueOfEquity_uCAD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_zHMKivsziZGi" title="Fair value of share issued">1,014,290</span> (USD$<span id="xdx_906_eifrs-full--IssueOfEquity_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_zi4ZOYzxKike" title="Fair value of share issued">787,785</span>). The finder’s warrants are exercisable to purchase units, with each unit consisting of one common share and one-half share purchase warrant of the Company at an exercise price of CAD$<span id="xdx_908_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231_zrCtTzbTHWI" title="Exercise price of warrant">1.55</span> (approximately USD$<span id="xdx_904_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uUSDPShares_c20220101__20221231_zcZfzMlZP5j8" title="Exercise price of warrant">1.20</span>) until June 29, 2025. Each warrant is exercisable at CAD$<span id="xdx_906_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_z9298UWjlKVi" title="Exercisable price">2.50</span> (approximately USD$<span id="xdx_903_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uUSDPShares_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_zIjuH1mi5VTg" title="Exercisable price">1.80</span>) until June 29, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>For the year ended December 31, 2021</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 8, 2021, the Company closed a non-brokered private placement financing for aggregate gross proceeds of $<span id="xdx_907_eifrs-full--ProceedsFromIssueOfOrdinaryShares_pp0p0_uCAD_c20210308__20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_z30tLlqkhEl3">481,350</span> CAD (approximately US$<span id="xdx_90E_eifrs-full--ProceedsFromIssueOfOrdinaryShares_pp0p0_uUSD_c20210308__20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_z3f9dbfgVFG5" title="Proceeds from issuance of shares">400,792</span>) (the “March Offering”). Under the March Offering, the Company issued an aggregate of <span id="xdx_905_eifrs-full--NumberOfSharesIssued_iI_pp0p0_uShares_c20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zao5VTizu7P3" title="Shares issued">1,603,166</span> units, at a price of $<span id="xdx_90D_ecustom--ShareIssuedPricePerShare_iI_pip0_uCADPShares_c20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zQTPZdU5Uzkl" title="Share issued price per share">0.30</span> CAD per unit (approximately US$<span id="xdx_909_ecustom--ShareIssuedPricePerShare_iI_pip0_uUSDPShares_c20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zcjgVicPkFw9" title="Share issued price per share">0.25</span> per unit). Each unit was comprised of one Common Share and one-half of one share purchase warrant. Each warrant entitles the holder to purchase one Common Share at a price of $<span id="xdx_903_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_pid_uCADPShares_c20210308__20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--USPrivatePlacementMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_zIIETqr0fpH9" title="Exercise price">0.50</span> CAD (approximately $<span id="xdx_90F_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_pid_uUSDPShares_c20210308__20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--USPrivatePlacementMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--WarrantsMember_z53ncEjGKshk" title="Exercise price">0.40</span>) for a period of 30 months from the closing date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 8, 2021, the Company closed a private placement for proceeds of $<span id="xdx_90B_eifrs-full--ProceedsFromIssueOfOrdinaryShares_c20210308__20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--USPrivatePlacementMember_zvXxMzwDdQe3" title="Proceeds from issuance of shares">235,808</span> (the “US Private Placement”). Under the US Private Placement, the corporation issued an aggregate of <span id="xdx_90A_eifrs-full--NumberOfSharesIssued_iI_c20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--USPrivatePlacementMember_zKh7NFaq4peh" title="Shares issued">943,232</span> units at a price of $<span id="xdx_90C_ecustom--ShareIssuedPricePerShare_iI_pid_uUSDPShares_c20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--USPrivatePlacementMember_zgeY3MX30Xmf" title="Share issued price per share">0.25</span> per unit. Each unit was comprised of one Common Share and one-half of one share purchase warrant. Each warrant entitles the holder to purchase one Common Share at a price of $<span id="xdx_903_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_pid_uUSDPShares_c20210308__20210308__ifrs-full--ClassesOfShareCapitalAxis__custom--USPrivatePlacementMember_zuO2MgAWOft4" title="Class of Warrant or Right, Exercise Price of Warrants or Rights">0.40</span> for a period of 30 months from the closing date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2021, convertible debt in the principal amount of $<span id="xdx_903_eifrs-full--NotionalAmount_iI_uCAD_c20210331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zuQVvmwQLOk7">150,000</span> CAD (US$<span id="xdx_90D_eifrs-full--NotionalAmount_iI_uUSD_c20210331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zFbGtReUYjw1">118,726</span>) and accrued interest of $<span id="xdx_907_eifrs-full--InterestPayable_iI_uCAD_c20210331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zLYbK41yKUkf" title="Accrued interest">12,000</span> CAD (US$<span id="xdx_901_eifrs-full--InterestPayable_iI_uUSD_c20210331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zr3M48WHz3u6" title="Accrued interest">9,478</span>) was converted to <span id="xdx_90D_ecustom--UnitsIssuedOnConversionOfDebt_iI_uShares_c20210331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zw8hb0ie1ys7" title="Units issued on conversion of debt">432,000</span> units at $<span id="xdx_90E_ecustom--DebtConversionPrice_iI_uCADPShares_c20210331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zYpj30Y9GrH6">0.375</span> CAD per unit (approximately US$<span id="xdx_900_ecustom--DebtConversionPrice_iI_uUSDPShares_c20210331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember_zUwYrZokEVk8">0.30</span>). Each unit issued consists of one Common Share and one warrant. Each warrant entitles the holder to purchase one Common Share at a price of US$<span id="xdx_904_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_c20210301__20210331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebentureMember__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_zj1CbIljwwIe" title="Exercise price">0.50 </span>for a period of 24 months from the closing date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2021, the Company granted <span id="xdx_900_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zs8m5DoM9lU4" title="Number of warrants, issued">265,000</span> restricted share units which vested immediately. In connection with the grant, <span id="xdx_909_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--OrdinarySharesMember_z7d6xmqYVPvh" title="Number of share options granted in share-based payment arrangement">255,000</span> Common Shares with a fair value of $<span id="xdx_90F_eifrs-full--IssueOfEquity_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--OrdinarySharesMember_zVjPcbN64Dgi" title="Fair value of share issued">204,525</span> were issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2021, <span id="xdx_90C_eifrs-full--NumberOfSharesIssued_iI_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--CommonSharesMember_zylZbrgBZrs7">10,000</span> Common Shares with a fair value of $<span id="xdx_903_eifrs-full--IssueOfEquity_uUSD_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__custom--CommonSharesMember_zSZKeY7vglGd" title="Fair value of share issued">7,450 </span>was recorded as an obligation to issue shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common Stock (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 28, 2021, the Company issued <span id="xdx_90E_eifrs-full--NumberOfSharesIssued_iI_c20210628__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zFQQGPiID10g" title="Shares issued">10,000</span> Common Shares at $<span id="xdx_909_ecustom--ShareIssuedPricePerShare_iI_uCADPShares_c20210628__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zaMvYlWnstsh" title="Share issued price per share">1.50</span> CAD (approximately US$<span id="xdx_90A_ecustom--ShareIssuedPricePerShare_iI_uUSDPShares_c20210628__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zKsBnx8rsDE6">1.20</span>) per share for gross proceeds of $<span id="xdx_90D_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20210628__20210628__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zCGWjmu0PWu7" title="Proceeds from issuance of shares">15,000</span> CAD (US$<span id="xdx_906_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20210628__20210628__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zvNmi5frjlsk">12,151</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2021, the Company issued <span id="xdx_904_eifrs-full--NumberOfSharesIssued_iI_c20211231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember__ifrs-full--ProductsAndServicesAxis__custom--ServicesMember_z5rVvqpbq9zk" title="Shares issued">626,118</span> Common Shares with a fair value of $<span id="xdx_90C_eifrs-full--IssueOfEquity_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember__ifrs-full--ProductsAndServicesAxis__custom--ServicesMember_zjPTfRrt5pOd" title="Fair value of share issued">765,576</span> for services provided.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2021, the Company issued <span id="xdx_90C_eifrs-full--NumberOfSharesIssued_iI_c20211231__ifrs-full--BorrowingsByNameAxis__custom--LiabilitiesMember_zetIUp626mE5">1,050,548</span> Common Shares with fair value of $<span id="xdx_901_eifrs-full--IssueOfEquity_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--LiabilitiesMember_zXJBJFiYp9Uj">419,573</span> to settle liabilities of $<span id="xdx_907_eifrs-full--NetDebt_iI_c20211231__ifrs-full--BorrowingsByNameAxis__custom--LiabilitiesMember_zcP8KuaXDVGd">338,101</span>. A loss of $<span id="xdx_901_ecustom--LossOnIssuanceOfDebt_iI_c20211231__ifrs-full--BorrowingsByNameAxis__custom--LiabilitiesMember_zVVwP177T0t3">82,280</span> was recognized pursuant to the issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2021, the Company issued Common Shares for the exercise of options as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zni8grJHYH6g">30,000</span> common shares for the exercise of <span id="xdx_90E_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zy1StDBtZOad">30,000</span> options at $<span id="xdx_900_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zZU8eILa0sR4">0.90</span> for cash proceeds of $<span id="xdx_901_eifrs-full--ProceedsFromExerciseOfOptions_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsMember_zjp0gO2ahve8">27,358</span>;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_znsareeeYxD">120,000</span> common shares for the exercise of <span id="xdx_90A_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zPj2pkE5YKp2">120,000</span> options at $<span id="xdx_90B_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zjSZkSyTEfOl">0.90</span>. In lieu of cash, the Company settled $<span id="xdx_906_eifrs-full--IssueOfEquity_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsOneMember_zLq9ClQ5rrc6">109,427</span> of outstanding debt;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_z8xBmR3mDMRb">6,000</span> common shares for the exercise of <span id="xdx_90E_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zOcvtDFQjZje">6,000</span> options at $<span id="xdx_908_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zIR26CVzcqDc">0.50</span> CAD (approximately US$<span id="xdx_901_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zjLsrhFOko75">0.40</span>) for cash proceeds of $<span id="xdx_905_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zOWhjXK0cus3">3,000</span> CAD (US$<span id="xdx_900_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zY3WHxsqaJzj">2,403</span>);</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zoSQfiZDdhc9">300,000</span> common shares for the exercise of <span id="xdx_90A_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_z2scHoKjElb1">300,000</span> options at $<span id="xdx_906_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zjYokZYwSPH5">0.60</span> for cash proceeds of $<span id="xdx_908_eifrs-full--ProceedsFromExerciseOfOptions_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zWLO16jV7a69">120,000</span>. The shares issued include <span id="xdx_901_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zdkoImg4q4nb">100,000</span> issued to a related party where the Company entered into a promissory note agreement with the related party for total principal receivable of $<span id="xdx_907_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zRRdpIi94jIi" title="Proceeds from issuance of shares">60,000</span>. The note bears interest at <span id="xdx_904_eifrs-full--BorrowingsInterestRate_iI_dp_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsThreeMember_zlLjN5JtbWf3" title="Interest rate">5</span>% per annum and matures in November 2022; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zFPNekmolWf9">262,000</span> common shares for the exercise of <span id="xdx_902_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zkJDF5yuYnCe">262,000</span> options at $<span id="xdx_900_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zjtMLalK5A49">0.40</span> CAD (approximately US$<span id="xdx_901_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zL6wgMwiOSNf">0.30</span>) for cash proceeds of $<span id="xdx_903_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zag2lDzoPVD5">104,800</span> CAD (US$<span id="xdx_909_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_z91hmM5zg4lh">83,774</span>). The shares issued include <span id="xdx_908_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_z1SxAECWukfk">64,000</span> issued to a related party where the Company entered into a promissory note agreement with the related party for total principal receivable of $<span id="xdx_90A_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_z2navPSgUyd2">25,600</span> CAD (US$<span id="xdx_903_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zGK01HRnjBf5">20,464</span>). The note bears interest at <span id="xdx_90F_eifrs-full--BorrowingsInterestRate_iI_dp_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsFourMember_zuO73q7OEyRa" title="Interest rate">5</span>% per annum and matures in November 2022.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2021, the Company issued Common Shares for the exercise of warrants as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_z9g37Hf2JKl8">3,321,357</span> Common Shares for the exercise of <span id="xdx_90C_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_zKcyMSxWL0ye">3,310,437</span> warrants at $<span id="xdx_906_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_zR1UtElxDLjf" title="Exercise price">0.60</span> CAD (approximately US$<span id="xdx_905_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_zOF1QZvtpZqg" title="Exercise price">0.50</span>) for gross proceeds of $<span id="xdx_90C_ecustom--ProceedsFromSharesIssued_uCAD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_zHBjynei3Fsd" title="Proceeds from shares issued">1,992,838</span> CAD (US$<span id="xdx_906_ecustom--ProceedsFromSharesIssued_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_zRXig4VNdjzd" title="Proceeds from shares issued">1,589,688</span>). <span id="xdx_90B_ecustom--CommonStockIssuedWereCancelled_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_z2dAlBrKUkI5" title="Shares issued in error">10,920</span> shares were issued in error and were cancelled. As the warrants were liability classified, the fair value of the shares of $<span id="xdx_901_eifrs-full--IssueOfEquity_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsOneMember_zP11TRY52Ws7" title="Shares issued in error">1,806,614</span> was transferred to share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zcSrQdglNLif">2,355,333</span> shares, as a result of the exercise of <span id="xdx_908_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zV6cmCFPB5kk">2,355,333</span> warrants at $<span id="xdx_905_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_z0BTu5Wyyoyh" title="Exercise price">0.60</span> CAD (approximately US$<span id="xdx_90A_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_z1GYz0Vamwef" title="Exercise price">0.50</span>) where the Company entered into promissory note agreements for total principal receivable by the Company of $<span id="xdx_90E_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zSzr9MiymlP9">1,413,200</span> CAD (US$<span id="xdx_902_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_z5EYFIuZGjh5">1,131,309</span>). The notes bear interest at <span id="xdx_907_eifrs-full--BorrowingsInterestRate_iI_dp_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zRWhofK1DHL8" title="Interest rate">5</span>% per annum and mature in two years. As the warrants were liability classified, the fair value of the shares of $<span id="xdx_902_eifrs-full--IssueOfEquity_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsTwoMember_zaGjwDOMdLgc">852,702</span> was transferred to share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zpRlkAM8DQv">280,000</span> Common Shares for the exercise of <span id="xdx_901_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zCOJltdjLSL6">280,000</span> warrants at $<span id="xdx_905_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zTkhDnX0uYdj" title="Exercise price">0.60</span> CAD (approximately US$<span id="xdx_907_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zsLlSLMY96hg" title="Exercise price">0.50</span>), to settle long-term notes payable in the amount of $<span id="xdx_903_eifrs-full--OtherPayables_iI_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zTFfzPkVc8Ff">38,062</span> and debt in the amount of $<span id="xdx_90E_eifrs-full--PaymentsForDebtIssueCosts_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zy7dn7XneMa1">95,959</span>. The Company recognized the loss on settlement of $<span id="xdx_901_eifrs-full--SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_z4ChFxymwhq1">60,338</span>. As the warrants were liability classified, the fair value of the shares of $<span id="xdx_900_eifrs-full--IssueOfEquity_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsThreeMember_zGSu8Lg9yUkb">291,912</span> was transferred to share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_z0ksJLscgfKj">186,333</span> Common Shares for the exercise of <span id="xdx_90D_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_zXaG6VrKMvhe">186,333</span> warrants at $<span id="xdx_909_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_zkU4UnaMjK8a" title="Exercise price">0.50</span> CAD (approximately US$<span id="xdx_907_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_z6xuD1mX4oK6" title="Exercise price">0.40</span>) for gross proceeds of $<span id="xdx_902_ecustom--ProceedsFromSharesIssued_uCAD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_z3DgyDCsoYVh" title="Proceeds from shares issued">93,167</span> CAD (US$<span id="xdx_907_ecustom--ProceedsFromSharesIssued_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_zoEKbvjOOasg" title="Proceeds from shares issued">73,961</span>). As the warrants were liability classified, the fair value of the shares of $<span id="xdx_90B_eifrs-full--IssueOfEquity_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFourMember_zvSV4zWke3ol" title="Shares issued in error">88,577</span> was transferred to share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_ztUauyCLDwD7">100,000</span> shares, as a result of the exercise of <span id="xdx_904_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zUcNCZ6BooQd">100,000</span> warrants at $<span id="xdx_90E_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zMUAcNb5p9Mc" title="Exercise price">0.50</span> CAD (approximately US$<span id="xdx_904_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zwOgucuKZkmb" title="Exercise price">0.40</span>) where the Company entered into promissory note agreements for total principal receivable by the Company of $<span id="xdx_90A_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uCAD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zTsKWa2O4qb8">50,000</span> CAD (US$<span id="xdx_902_eifrs-full--ProceedsFromIssueOfOrdinaryShares_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zoDJPD32KA5k">39,969</span>). The notes bear interest at <span id="xdx_900_eifrs-full--BorrowingsInterestRate_iI_dp_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zWH6UqubcTri" title="Interest rate">5</span>% per annum and mature in two years. As the warrants were liability classified, the fair value of the shares of $<span id="xdx_905_eifrs-full--IssueOfEquity_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsFiveMember_zFU6lsFAeCx7">852,702</span> was transferred to share premium;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zG56g3EUL7uf">6,000</span> Common Shares for the exercise of <span id="xdx_908_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_uShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zdNkXESuCgQe">6,000</span> warrants at $<span id="xdx_907_eifrs-full--ExercisePriceShareOptionsGranted2019_uCADPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_ztKQDQasFEK9" title="Exercise price">1.00</span> CAD (approximately US$<span id="xdx_90D_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zQMZqnRl1bo1" title="Exercise price">0.80</span>) for gross proceeds of $<span id="xdx_90B_ecustom--ProceedsFromSharesIssued_uCAD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zxhkrGc6rVik" title="Proceeds from shares issued">6,000</span> CAD (US$<span id="xdx_907_ecustom--ProceedsFromSharesIssued_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zHdTIFgtBfUf" title="Proceeds from shares issued">4,809</span>). As the warrants were liability classified, the fair value of the shares of $<span id="xdx_901_eifrs-full--IssueOfEquity_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSixMember_zaD4OHVmgoyf" title="Shares issued in error">716</span> was transferred to share premium; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSevenMember_zVraIvYUckeh">5,000</span> Common Shares for the exercise of warrants at $<span id="xdx_90D_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSevenMember_z060MpMfrtS3" title="Exercise price">1.55</span> for gross proceeds of $<span id="xdx_90E_ecustom--ProceedsFromSharesIssued_uUSD_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsSevenMember_zBy7jwItgse3" title="Proceeds from shares issued">8,000</span>.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> 0 115250810 76775071 37033919 36057934 0.30 0.22 10817380 7960687 737934 543057 2101726 0.30 0.22 353288 259955 150000 212632 195290 17342 1762805 5000 0.60 0.44 3000 2215 60000 29299 11957 17342 18873 100000 25000 40000 40000 0.75 0.55 30000 21872 18475 70000 70000 2.20 1.62 154000 113717 72050 70000 70000 0.80 0.60 56453 42000 35174 60000 60000 0.75 0.56 45000 33479 29939 200000 200000 2.20 1.66 440000 331796 273583 538250 538250 0.50 0.38 269125 202713 336464 160000 160000 0.50 0.37 58698 98786 50000 50000 0.50 0.37 10949 8034 31511 14051 10310 5000 5000 0.60 0.44 3000 2213 49000 49000 1.00 0.76 49000 37225 550000 550000 1.55 1.15 852500 635127 467968 9500 9500 2.25 1.69 21375 16101 1159 221616 221616 0.39 87071 326695 250000 250000 0.40 100000 121604 152000 152000 0.50 67797 164025 200000 200000 0.80 160000 210627 60000 60000 0.40 0.29 24000 17609 16557 155000 149000 0.50 0.39 77500 58751 6000 2322 55001 50000 50000 0.50 0.39 25000 19270 18474 330000 330000 2.20 1.50 726000 494706 341584 56000 41349 80000 80000 0.60 48000 43290 21331588 0.825 17598610 13886226 2.25 1397495 1108790 1501357 994775 600000 495000 391021 40000 51208 51208 181818 150000 118188 150000 118188 220000 10000 210000 111122 7540 14507380 1.55 1.20 22486439 17408856 2.50 1.95 0.20 1994906 1549196 850288 1014290 787785 1.55 1.20 2.50 1.80 481350 400792 1603166 0.30 0.25 0.50 0.40 235808 943232 0.25 0.40 150000 118726 12000 9478 432000 0.375 0.30 0.50 265000 255000 204525 10000 7450 10000 1.50 1.20 15000 12151 626118 765576 1050548 419573 338101 82280 30000 30000 0.90 27358 120000 120000 0.90 109427 6000 6000 0.50 0.40 3000 2403 300000 300000 0.60 120000 100000 60000 0.05 262000 262000 0.40 0.30 104800 83774 64000 25600 20464 0.05 3321357 3310437 0.60 0.50 1992838 1589688 10920 1806614 2355333 2355333 0.60 0.50 1413200 1131309 0.05 852702 280000 280000 0.60 0.50 38062 95959 60338 291912 186333 186333 0.50 0.40 93167 73961 88577 100000 100000 0.50 0.40 50000 39969 0.05 852702 6000 6000 1.00 0.80 6000 4809 716 5000 1.55 8000 <p id="xdx_802_eifrs-full--DisclosureOfSharebasedPaymentArrangementsExplanatory_zOeRpXiqWFg8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82A_zxy5673G0u6d">Stock Options</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--IncentivePlans_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--TwoThousandAndTwentyTwoLongTermIncentiveEquityPlanMember_zqooC84eSxwl" title="Incentive plans">The Board of Directors adopted the Trillion Energy International Inc. 2022 Long-Term Incentive Equity Plan (the “2022 Plan”) effective as of December 1, 2022.</span> The 2022 Plan permits grants of stock options and restricted stock awards and other stock-based awards.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the 2022 Plan, the maximum number of shares of authorized stock that may be delivered is <span id="xdx_906_ecustom--NumberOfSharesOfCommonStockIssuedAndOutstandingPercentage_pid_dp_uPure_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--TwoThousandAndTwentyTwoLongTermIncentiveEquityPlanMember_zgSqym6DINNl" title="Number of shares issued and outstanding percentage">10%</span> of the total number of shares of common stock issued and outstanding of the Company as determined on the applicable date of grant of an award under the 2022 Plan. Under the 2022 Plan, the exercise price of each option shall be determined by the Board of Directors, subject to any applicable Exchange approval or rules, at the time any option or other stock-based award is granted. In no event shall such exercise price be lower than the exercise price permitted by the Exchange. The vesting schedule for each option or other stock-based award shall be specified by the Board of Directors at the time of grant, subject to any applicable Exchange approval or rules.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eifrs-full--DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_zL8RBUsWIc73" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A continuity of the Company’s outstanding stock options for the years ended December 31, 2023, 2022 and 2021 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_z0Ap81m0m0w6" style="display: none">Summary of Changes in Stock Options</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average <br/> exercise price (CAD)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Outstanding, January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20210101__20211231_z9yUYOovl3j8" style="width: 16%; text-align: right" title="Number of purchase share outstanding, Beginning of the period">2,380,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20210101__20211231_zORjlVf0Tur7" style="width: 16%; text-align: right" title="Weighted average exercise price, Ending Balance">0.70</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pp0d_uShares_c20210101__20211231_zzFskk036p3" style="text-align: right" title="Number of options outstanding, Granted">90,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231_zbmuY474nBN5" style="text-align: right" title="Weighted average exercise price, Granted">2.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20210101__20211231_zcRurey12Fr6" style="text-align: right" title="Number of options outstanding, Exercised">(782,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231_zoPhA84Fy4Z3" style="text-align: right" title="Weighted average exercise price, Exercised">0.69</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20210101__20211231_z9qh6zcM8nVk" style="text-align: right" title="Number of options outstanding, Exercised">(30,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231_zdxJP4Wn2lpa" style="text-align: right" title="Weighted average exercise price, Expired">1.14</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20210101__20211231_zrbaAeQtoKUk" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Cancelled">(130,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231_zB3UJ3MIo0f8" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Cancelled">0.97</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding, December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20220101__20221231_zsOsrNzJX9L5" style="text-align: right" title="Number of purchase share outstanding, Beginning of the period">1,528,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20220101__20221231_z6ZbyukXnNc9" style="text-align: right" title="Weighted average exercise price, Ending Balance">0.79</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pp0d_uShares_c20220101__20221231_zsGlKWmvzrof" style="text-align: right" title="Number of options outstanding, Granted">1,442,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231_znhwPnba6ld5" style="text-align: right" title="Weighted average exercise price, Granted">1.86</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20220101__20221231_zP9nRWXNEVKh" style="text-align: right" title="Number of options outstanding, Exercised">(669,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231_zyiM8rUQC7ri" style="text-align: right" title="Weighted average exercise price, Exercised">1.33</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20220101__20221231_zgfysQBxnL7k" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Exercised">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231_zYtaWhKZPTc6" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Expired">0.50</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding, December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20230101__20231231_zwQixigow3Tj" style="text-align: right" title="Number of options outstanding, Ending Balance">2,300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20230101__20231231_zzJhAGpEB1e9" style="text-align: right" title="Weighted average exercise price, Ending Balance">1.27</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20230101__20231231_zUkEX5IEAHo" style="text-align: right" title="Number of options outstanding, Exercised">(440,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231_zCDeudJTxYG5" style="text-align: right" title="Weighted average exercise price, Exercised">1.65</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20230101__20231231_zCnokqMphVme" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Expired">(240,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231_zcBjxq6ee0p3" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Expired">0.79</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Outstanding, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOutstandingShareOptions_iE_uShares_c20230101__20231231_zQdXP9Ak3FDd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Ending Balance">1,620,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iE_uCADPShares_c20230101__20231231_zypregEbWRBd" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Ending Balance">1.24</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Exercisable, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eifrs-full--NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_iE_uShares_c20230101__20231231_zThPU8fLVWTl" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options Exercisable, Ending Balance">1,620,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_iE_uCADPShares_c20230101__20231231_zUUXejcDw4ta" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average shares exercisable, Ending Balance">1.24</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zRB5VswvMelh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_ecustom--DisclosureOfSharebasedPaymentArrangementsOptionsOutstandingAndExercisableExplanatory_zbKKAEszIzK6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At December 31, 2023 the Company had the following outstanding stock options:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BE_zOhHdpme43ak" style="display: none">Schedule of Stock Options Outstanding and Exercisable</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry Date</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Vested</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zLj41VC0CFAl" style="width: 15%; text-align: right" title="Number of Options Outstanding">660,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zmr8UVQUZI8b" title="Exercise Price">0.75</span> CAD</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td id="xdx_980_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zhCXWYDHNZT9" style="width: 42%; text-align: right" title="Expiry Date">September 19, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zBm1qkCbqYh" style="width: 16%; text-align: right" title="Number of Options Vested">660,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOutstandingShareOptions_iI_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zdQ7jr5JfzOf" style="text-align: right" title="Number of Options Outstanding">128,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_z9JGOTlMFpL6" title="Exercise Price">0.40</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td id="xdx_988_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zMvRjo4XJCu5" style="text-align: right" title="Expiry Date">July 31, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zXHXyjMpVh5d" style="text-align: right" title="Number of Options Vested">128,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zTHKX6a7s6S4" style="text-align: right" title="Number of Options Outstanding">512,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zMmy7HZDI3Uf" title="Exercise Price">1.50</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td id="xdx_98E_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_z2ltk2v9Mvi5" style="text-align: right" title="Expiry Date">July 26, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zAwxGAB5dJQd" style="text-align: right" title="Number of Options Vested">512,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_ziIl6rHuOGh1" style="text-align: right" title="Number of Options Outstanding">50,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_zKhLTta1tek1" title="Exercise Price">1.90</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td id="xdx_98C_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_zTrGpl88L5Sf" style="text-align: right" title="Expiry Date">June 6, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_zuPbjvejlOb8" style="text-align: right" title="Number of Options Vested">50,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_zoYAKYXLlTNi" style="text-align: right" title="Number of Options Outstanding">150,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_z53C3va9TsJ5" title="Exercise Price">2.20</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td id="xdx_986_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_zoGOSBqVAFja" style="text-align: right" title="Expiry Date">October 27, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_zAQXbYN7TsVd" style="text-align: right" title="Number of Options Vested">150,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zIvZ6HJLZbNc" style="text-align: right" title="Number of Options Outstanding">70,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_z8V8pPCQCyQf" title="Exercise Price">2.20</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td id="xdx_98D_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zwVjYCaI45A7" style="text-align: right" title="Expiry Date">December 9, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zcdY98gXRpa1" style="text-align: right" title="Number of Options Vested">70,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSevenMember_zOQY5Asykm2a" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding">50,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSevenMember_zfRNjjNPl0m2" title="Exercise Price">2.20</span> CAD</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td id="xdx_987_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSevenMember_zX9TcP1eXhQc" style="text-align: right; padding-bottom: 1pt" title="Expiry Date">December 9, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSevenMember_z5G3ianDW1O5" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Vested">50,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231_zhIUKVsa48u8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding">1,620,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: justify; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231_zyJPVz2t5WPi" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Vested">1,620,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zu2m9AymGsQc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2023, the weighted average remaining contractual life of outstanding stock options is <span id="xdx_908_eifrs-full--WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_dtY_c20230101__20231231_zV7IFLdpLFK9">1.26 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">years (December 31, 2022 – <span id="xdx_907_eifrs-full--WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_dtY_c20220101__20221231_zIQirufbA3ka">2.09 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">years and December 31, 2021 – <span id="xdx_901_eifrs-full--WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_dtY_c20210101__20211231_zvvy3mlZNOG8">2.35 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">years).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock Options (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended December 31, 2023, the Company recognized $<span id="xdx_904_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_c20230101__20231231_z5wsfLtKuts4" title="Stock-based compensation expense">118,202</span> (2022 - $<span id="xdx_90C_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_c20220101__20221231_zHotrB9fpJf7" title="Stock-based compensation expense">1,421,267</span> and 2021 - $<span id="xdx_90E_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_c20210101__20211231_zfxYCXhUJdB6" title="Stock-based compensation expense">108,775</span>) in stock-based compensation expense for options granted and vested. At December 31, 2023, the Company has $<span id="xdx_901_eifrs-full--ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets_dxL_c20230101__20231231_zVfG93q8wCR" title="Unrecognized compensation expenses::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl3701">Nil</span></span> (December 31, 2022 - $<span id="xdx_905_eifrs-full--ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets_c20220101__20221231_zugwKn8nFMz1" title="Unrecognized compensation expenses">123,873</span> and December 31, 2021 - $<span id="xdx_902_eifrs-full--ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets_dxL_c20210101__20211231_zxx2s2tKTSmc" title="Unrecognized compensation expenses::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl3705">Nil</span></span>) in unrecognized compensation expense related to stock options.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No stock options were granted during the year ended December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The fair values for stock options granted during the years ended December 31, 2022 and 2021 have been estimated using the Black-Scholes option pricing model using the following weighted average assumptions:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <p id="xdx_894_ecustom--DisclosureOfMeasurementInputsAndValuationTechniquesForStockOptionsExplanatory_zdBvUGADb7sc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zoFHvPnkoQId" style="display: none">Schedule of Share-Based Payment Award Stock Options Valuation Assumptions</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z4JINSAJpihi" title="Risk-free interest rate">0.29</span> – <span id="xdx_90C_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zF33hxybvCyb" title="Risk-free interest rate">3.76</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_909_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zsXusGqYdAab" title="Risk-free interest rate">0.33</span> – <span id="xdx_90F_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zZYL4LHA1UD6" title="Risk-free interest rate">0.79</span> </span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_90E_ecustom--ExpectedLifeOfOptions_dtY_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zhki5eRK98M2" title="Expected life (years)">2</span> – <span id="xdx_909_ecustom--ExpectedLifeOfOptions_dtY_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zovVQYbinP9g" title="Expected life">5</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--ExpectedLifeOfOptions_dtY_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zWVfIi16Ay6" title="Expected life (years)">3</span> – <span id="xdx_90F_ecustom--ExpectedLifeOfOptions_dtY_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_z8yM6a1Js8Bc" title="Expected life">5</span>  </span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_902_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zVIIdavFiPM8" title="Expected volatility">125</span> – <span id="xdx_907_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zD6DwoYF99me" title="Expected volatility">234</span>% </span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_904_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z1TGfn5hYTlf" title="Expected volatility">245</span> – <span id="xdx_90D_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_ziCcRsSRB5Ci" title="Expected volatility">257</span> </span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Dividend yield</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90A_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zOERaK5aYbjg" title="Expected dividend yield">0</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90D_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zWWHvRJZnYR8" title="Expected dividend yield">0</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeiture rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--ForfeitureRateAsPercentageShareOptionsGranted_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zdNaYlMAtJnd" title="Forfeiture rate">0</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--ForfeitureRateAsPercentageShareOptionsGranted_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_z25rOA0Vc8Y3" title="Forfeiture rate">0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average fair value per share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_909_eifrs-full--WeightedAverageSharePriceShareOptionsGranted2019_pid_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zTiwq8IPJsnl" title="Weighted average fair value per share">0.28</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eifrs-full--WeightedAverageSharePriceShareOptionsGranted2019_pid_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zHuAvEM1iQmk" title="Weighted average fair value per share">0.24</span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AB_zRru3ydScxR8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> The Board of Directors adopted the Trillion Energy International Inc. 2022 Long-Term Incentive Equity Plan (the “2022 Plan”) effective as of December 1, 2022. 0.10 <p id="xdx_89C_eifrs-full--DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_zL8RBUsWIc73" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A continuity of the Company’s outstanding stock options for the years ended December 31, 2023, 2022 and 2021 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_z0Ap81m0m0w6" style="display: none">Summary of Changes in Stock Options</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average <br/> exercise price (CAD)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Outstanding, January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20210101__20211231_z9yUYOovl3j8" style="width: 16%; text-align: right" title="Number of purchase share outstanding, Beginning of the period">2,380,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20210101__20211231_zORjlVf0Tur7" style="width: 16%; text-align: right" title="Weighted average exercise price, Ending Balance">0.70</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pp0d_uShares_c20210101__20211231_zzFskk036p3" style="text-align: right" title="Number of options outstanding, Granted">90,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231_zbmuY474nBN5" style="text-align: right" title="Weighted average exercise price, Granted">2.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20210101__20211231_zcRurey12Fr6" style="text-align: right" title="Number of options outstanding, Exercised">(782,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231_zoPhA84Fy4Z3" style="text-align: right" title="Weighted average exercise price, Exercised">0.69</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20210101__20211231_z9qh6zcM8nVk" style="text-align: right" title="Number of options outstanding, Exercised">(30,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231_zdxJP4Wn2lpa" style="text-align: right" title="Weighted average exercise price, Expired">1.14</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20210101__20211231_zrbaAeQtoKUk" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Cancelled">(130,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231_zB3UJ3MIo0f8" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Cancelled">0.97</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding, December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20220101__20221231_zsOsrNzJX9L5" style="text-align: right" title="Number of purchase share outstanding, Beginning of the period">1,528,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20220101__20221231_z6ZbyukXnNc9" style="text-align: right" title="Weighted average exercise price, Ending Balance">0.79</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pp0d_uShares_c20220101__20221231_zsGlKWmvzrof" style="text-align: right" title="Number of options outstanding, Granted">1,442,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231_znhwPnba6ld5" style="text-align: right" title="Weighted average exercise price, Granted">1.86</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20220101__20221231_zP9nRWXNEVKh" style="text-align: right" title="Number of options outstanding, Exercised">(669,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231_zyiM8rUQC7ri" style="text-align: right" title="Weighted average exercise price, Exercised">1.33</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20220101__20221231_zgfysQBxnL7k" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Exercised">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231_zYtaWhKZPTc6" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Expired">0.50</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding, December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20230101__20231231_zwQixigow3Tj" style="text-align: right" title="Number of options outstanding, Ending Balance">2,300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20230101__20231231_zzJhAGpEB1e9" style="text-align: right" title="Weighted average exercise price, Ending Balance">1.27</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20230101__20231231_zUkEX5IEAHo" style="text-align: right" title="Number of options outstanding, Exercised">(440,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231_zCDeudJTxYG5" style="text-align: right" title="Weighted average exercise price, Exercised">1.65</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20230101__20231231_zCnokqMphVme" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Expired">(240,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231_zcBjxq6ee0p3" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Expired">0.79</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Outstanding, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOutstandingShareOptions_iE_uShares_c20230101__20231231_zQdXP9Ak3FDd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Ending Balance">1,620,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iE_uCADPShares_c20230101__20231231_zypregEbWRBd" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Ending Balance">1.24</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Exercisable, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eifrs-full--NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_iE_uShares_c20230101__20231231_zThPU8fLVWTl" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options Exercisable, Ending Balance">1,620,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_iE_uCADPShares_c20230101__20231231_zUUXejcDw4ta" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average shares exercisable, Ending Balance">1.24</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 2380000 0.70 90000 2.00 782000 0.69 30000 1.14 130000 0.97 1528000 0.79 1442000 1.86 669000 1.33 1000 0.50 2300000 1.27 440000 1.65 240000 0.79 1620000 1.24 1620000 1.24 <p id="xdx_898_ecustom--DisclosureOfSharebasedPaymentArrangementsOptionsOutstandingAndExercisableExplanatory_zbKKAEszIzK6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At December 31, 2023 the Company had the following outstanding stock options:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BE_zOhHdpme43ak" style="display: none">Schedule of Stock Options Outstanding and Exercisable</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry Date</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Vested</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zLj41VC0CFAl" style="width: 15%; text-align: right" title="Number of Options Outstanding">660,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zmr8UVQUZI8b" title="Exercise Price">0.75</span> CAD</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td id="xdx_980_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zhCXWYDHNZT9" style="width: 42%; text-align: right" title="Expiry Date">September 19, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zBm1qkCbqYh" style="width: 16%; text-align: right" title="Number of Options Vested">660,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOutstandingShareOptions_iI_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zdQ7jr5JfzOf" style="text-align: right" title="Number of Options Outstanding">128,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_z9JGOTlMFpL6" title="Exercise Price">0.40</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td id="xdx_988_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zMvRjo4XJCu5" style="text-align: right" title="Expiry Date">July 31, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zXHXyjMpVh5d" style="text-align: right" title="Number of Options Vested">128,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zTHKX6a7s6S4" style="text-align: right" title="Number of Options Outstanding">512,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zMmy7HZDI3Uf" title="Exercise Price">1.50</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td id="xdx_98E_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_z2ltk2v9Mvi5" style="text-align: right" title="Expiry Date">July 26, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zAwxGAB5dJQd" style="text-align: right" title="Number of Options Vested">512,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_ziIl6rHuOGh1" style="text-align: right" title="Number of Options Outstanding">50,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_zKhLTta1tek1" title="Exercise Price">1.90</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td id="xdx_98C_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_zTrGpl88L5Sf" style="text-align: right" title="Expiry Date">June 6, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_zuPbjvejlOb8" style="text-align: right" title="Number of Options Vested">50,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_zoYAKYXLlTNi" style="text-align: right" title="Number of Options Outstanding">150,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_z53C3va9TsJ5" title="Exercise Price">2.20</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td id="xdx_986_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_zoGOSBqVAFja" style="text-align: right" title="Expiry Date">October 27, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_zAQXbYN7TsVd" style="text-align: right" title="Number of Options Vested">150,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zIvZ6HJLZbNc" style="text-align: right" title="Number of Options Outstanding">70,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_z8V8pPCQCyQf" title="Exercise Price">2.20</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td id="xdx_98D_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zwVjYCaI45A7" style="text-align: right" title="Expiry Date">December 9, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zcdY98gXRpa1" style="text-align: right" title="Number of Options Vested">70,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSevenMember_zOQY5Asykm2a" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding">50,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSevenMember_zfRNjjNPl0m2" title="Exercise Price">2.20</span> CAD</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td id="xdx_987_ecustom--StockOptionsExpiryDate_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSevenMember_zX9TcP1eXhQc" style="text-align: right; padding-bottom: 1pt" title="Expiry Date">December 9, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSevenMember_z5G3ianDW1O5" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Vested">50,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20231231_zhIUKVsa48u8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding">1,620,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: justify; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231_zyJPVz2t5WPi" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Vested">1,620,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 660000 0.75 September 19, 2024 660000 128000 0.40 July 31, 2025 128000 512000 1.50 July 26, 2025 512000 50000 1.90 June 6, 2026 50000 150000 2.20 October 27, 2025 150000 70000 2.20 December 9, 2024 70000 50000 2.20 December 9, 2025 50000 1620000 1620000 P1Y3M3D P2Y1M2D P2Y4M6D 118202 1421267 108775 123873 <p id="xdx_894_ecustom--DisclosureOfMeasurementInputsAndValuationTechniquesForStockOptionsExplanatory_zdBvUGADb7sc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zoFHvPnkoQId" style="display: none">Schedule of Share-Based Payment Award Stock Options Valuation Assumptions</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z4JINSAJpihi" title="Risk-free interest rate">0.29</span> – <span id="xdx_90C_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zF33hxybvCyb" title="Risk-free interest rate">3.76</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_909_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zsXusGqYdAab" title="Risk-free interest rate">0.33</span> – <span id="xdx_90F_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zZYL4LHA1UD6" title="Risk-free interest rate">0.79</span> </span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_90E_ecustom--ExpectedLifeOfOptions_dtY_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zhki5eRK98M2" title="Expected life (years)">2</span> – <span id="xdx_909_ecustom--ExpectedLifeOfOptions_dtY_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zovVQYbinP9g" title="Expected life">5</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--ExpectedLifeOfOptions_dtY_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zWVfIi16Ay6" title="Expected life (years)">3</span> – <span id="xdx_90F_ecustom--ExpectedLifeOfOptions_dtY_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_z8yM6a1Js8Bc" title="Expected life">5</span>  </span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_902_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zVIIdavFiPM8" title="Expected volatility">125</span> – <span id="xdx_907_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zD6DwoYF99me" title="Expected volatility">234</span>% </span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_904_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z1TGfn5hYTlf" title="Expected volatility">245</span> – <span id="xdx_90D_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_ziCcRsSRB5Ci" title="Expected volatility">257</span> </span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Dividend yield</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90A_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zOERaK5aYbjg" title="Expected dividend yield">0</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90D_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zWWHvRJZnYR8" title="Expected dividend yield">0</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeiture rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--ForfeitureRateAsPercentageShareOptionsGranted_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zdNaYlMAtJnd" title="Forfeiture rate">0</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--ForfeitureRateAsPercentageShareOptionsGranted_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_z25rOA0Vc8Y3" title="Forfeiture rate">0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average fair value per share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_909_eifrs-full--WeightedAverageSharePriceShareOptionsGranted2019_pid_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zTiwq8IPJsnl" title="Weighted average fair value per share">0.28</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eifrs-full--WeightedAverageSharePriceShareOptionsGranted2019_pid_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zHuAvEM1iQmk" title="Weighted average fair value per share">0.24</span></td><td style="text-align: left"> </td></tr> </table> 0.0029 0.0376 0.0033 0.0079 P2Y P5Y P3Y P5Y 1.25 2.34 2.45 2.57 0 0 0 0 0.28 0.24 <p id="xdx_801_ecustom--DisclosureOfWarrantsExplanatory_ziomAhLWRtXi" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82B_zh2F2ltUcfRi">Warrants</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_ecustom--DisclosureOfChangeInWarrantsExplanatory_zEJYkn6593Hj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A continuity of the Company’s outstanding share purchase warrants for the years ended December 31, 2023, 2022, and 2021 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zl5Y9liVKZr1" style="display: none">Summary of Changes in Warrants</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of <br/>warrants</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average <br/>exercise price (CAD)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Outstanding, January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zt3Hm0PogrKa" style="width: 16%; text-align: right" title="Number of purchase share outstanding, Beginning of the period">7,173,062</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zWXjsPFESgh5" style="width: 16%; text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">0.68</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_znNA1NqjwoM1" style="text-align: right" title="Warrants, Issued">2,803,533</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zL03rU4DAigi" style="text-align: right" title="Weighted Average Exercise Price, Issued">0.59</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_iN_di_uShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zrg99zirzaD" style="text-align: right" title="Warrants, Exercised">(6,254,063</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zq3GPUXQOii3" style="text-align: right" title="Weighted Average Exercise Price, Exercised">0.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zqsrXLFttQMd" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(2,153,666</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zw7bdWMQyRCb" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">0.86</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding, December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zGVje2GnYmNb" style="text-align: right" title="Number of purchase share outstanding, Beginning of the period">1,568,866</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zz5O3LAaeyqa" style="text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">0.63</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z4BFtz6gnb1d" style="text-align: right" title="Warrants, Issued">21,011,038</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zaOmLkiDkSTb" style="text-align: right" title="Weighted Average Exercise Price, Issued">2.31</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_iN_di_uShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z5SnEvGxAcp" style="text-align: right" title="Warrants, Exercised">(2,185,366</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zJL7og0f6fqj" style="text-align: right" title="Weighted Average Exercise Price, Exercised">0.87</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zqqCFlKP7EHk" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(7,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zoSsPQiAk3Ee" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">0.50</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding, December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zGhGp4hqBotj" style="text-align: right" title="Number of purchase share outstanding, Beginning of the period">20,387,538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zd83t4Na7Cel" style="text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">2.33</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zg3f1AsEZ8Tl" style="text-align: right" title="Warrants, Issued">7,402,726</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zXGXDHrvlYl3" style="text-align: right" title="Weighted Average Exercise Price, Issued">1.88</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z2AHC4boOqM2" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(10,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zQPG1uXJl1s4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">2.17</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Outstanding, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iE_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zKceVd257vAh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of purchase share outstanding, Ending of the period">27,780,264</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iE_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z59Hs3lNj9md" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Outstanding, Ending Balance">2.21</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zJMZT8Aks1Lc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_ecustom--DisclosureOfSharebasedPaymentArrangementsForPurchaseWarrantsOutstandingExplanatory_z6pfcPQqFWA6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At December 31, 2023, the Company had the following outstanding share purchase warrants:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zgZOqd6UaP04" style="display: none">Schedule of Purchase Warrants Outstanding</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantOneMember_zoFD2o1wEUAf" style="width: 16%; text-align: right" title="Number of warrants outstanding">4,341,088</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 22%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantOneMember_zelrP0hkYG5e" title="Compensation warrants, exercise price">2.25</span> CAD </span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 54%; text-align: right"><span id="xdx_909_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantOneMember_zV4TZT14TzC2" title="Expiry date">March 15, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_986_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwoMember_zTEtQ4hOM5vd" style="text-align: right" title="Number of warrants outstanding">676,788</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwoMember_zWnAXYVPOB7k" title="Compensation warrants, exercise price">2.25</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90A_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwoMember_zXjL5etHXMR5" title="Expiry date">March 16, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_985_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantThreeMember_z5qGHKczDlO" style="text-align: right" title="Number of warrants outstanding">590,909</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantThreeMember_zgQOzNTV4Y31" title="Compensation warrants, exercise price">2.25</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_907_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantThreeMember_z5BFV98biSud" title="Expiry date">March 17, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_983_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFourMember_zPbRklcpmoki" style="text-align: right" title="Number of warrants outstanding">2,122,825</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFourMember_zpKHXoga3HZa" title="Compensation warrants, exercise price">2.25</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_901_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFourMember_zH79TLpspCx6" title="Expiry date">March 18, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_987_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFiveMember_zykmJK8sFs8" style="text-align: right" title="Number of warrants outstanding">4,286,351</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFiveMember_zCgRtUhFJy0f" title="Compensation warrants, exercise price">2.25</span> CAD </span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_903_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFiveMember_zxlaOAHq55G4" title="Expiry date">March 24, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSixMember_zPl2i2pmypQ3" style="text-align: right" title="Number of warrants outstanding">530,600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSixMember_zERQhRP4X2Jj" title="Compensation warrants, exercise price">2.25</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_906_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSixMember_zCGUwAYTBhha" title="Expiry date">March 28, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_980_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSevenMember_z4gpTCIwqtrj" style="text-align: right" title="Number of warrants outstanding">12,529,690</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSevenMember_zJ11TjFS8kfa" title="Compensation warrants, exercise price">2.50</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_906_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSevenMember_zsC18YDZKh1j" title="Expiry date">June 29, 2025</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_982_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantEightMember_zwwMxeo5oCd2" style="text-align: right" title="Number of warrants outstanding">300,288</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantEightMember_zkXnuxXbArNf" title="Compensation warrants, exercise price">1.55</span> CAD </span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90A_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantEightMember_zz6nBoB4Xjv9" title="Expiry date">June 29, 2025</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_988_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantNineMember_zo7j88v7fWlf" style="text-align: right" title="Number of warrants outstanding">300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantNineMember_zl4vURkAP1Sk" title="Compensation warrants, exercise price">2.50</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90A_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantNineMember_z4t3MaLDp1dh" title="Expiry date">April 20, 2025</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTenMember_zCoUPSy8F3Al" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants outstanding">2,101,726</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTenMember_zHX1OPgS3oja" title="Compensation warrants, exercise price">0.30</span> CAD</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"><span id="xdx_90F_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTenMember_z7QghTaBKno3" title="Expiry date">November 28, 2025</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zWF94TfAyDAj" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants outstanding">27,780,265</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td></tr> </table> <p id="xdx_8A2_zrwtffpD3wul" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2023, the weighted average remaining contractual life of outstanding warrants is <span id="xdx_904_eifrs-full--WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_dtY_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z8zrObgX9vY2" title="Weighted average remaining contractual life of outstanding share options">0.95</span> years (December 31, 2022 – <span id="xdx_906_eifrs-full--WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_dtY_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zOxZr4MFinW9" title="Weighted average remaining contractual life of outstanding share options">1.71</span> years and December 31, 2021 – <span id="xdx_908_ecustom--WeightedAverageRemainingContractualLifeOfOutstandingSharesOptions2019_dtY_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zQLNL2qFaZC2" title="Weighted average remaining contractual life of outstanding share options">1.63</span> years).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2021, in connection to a prior private placement in which warrants were owed to certain subscribers, the Company issued <span id="xdx_90B_eifrs-full--ProceedsFromExerciseOfWarrants_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember_zTX9gHbYGIoe" title="Proceeds from exercise of warrants">15,000</span> warrants with an exercise price of US$<span id="xdx_908_ecustom--ExercisePricePerShare_uUSDPShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember_zKaxtT41Ury8" title="Exercise price per share">1.60</span> per warrant and a contractual life of <span id="xdx_90C_eifrs-full--WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_dtM_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember_zrkmjdacU5P8" title="Weighted average remaining contractual life of outstanding share options">24</span> months. The fair value of the warrants on issuance was determined to be $<span id="xdx_909_eifrs-full--LossesOnChangeInFairValueOfDerivatives_c20210101__20211231_zOOIjurbXUVk" title="Losses on change in fair value of derivatives">15,616</span> which was recognized in the consolidated statements of loss and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Warrants (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2021, the Company had <span id="xdx_902_ecustom--WarrantsIssued_iI_pid_c20211231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember_zfJ2vztZ9NSl" title="Warrants issued">755,250</span> warrants issued in connection with private placements, or debt settlements. The exercise price of such warrants was denominated in CAD, when the functional currency prior to January 1, 2022 was the USD. As such the warrants were classified as derivate liabilities with a fair value of $<span id="xdx_900_eifrs-full--GainsLossesOnChangeInFairValueOfDerivatives_uCAD_c20210101__20211231_z5uMY6Eyy5n9" title="Losses on change in fair value of derivatives">472,899</span>. As a result of the change in functional currency of the Company to CAD on January 1, 2022, such warrants were reclassified to equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to the change in functional currency of the Company, <span id="xdx_90B_ecustom--WarrantsIssued_iI_uShares_c20211231_z3vsyVnTCVbh" title="Warrants issued">813,616</span> warrants with a carrying value of $<span id="xdx_901_ecustom--WarrantsCarryingValue_iI_c20211231_zU2qJsS2PyGg" title="Warrants carrying value">163,162</span> were reassessed to be derivative liabilities as the exercise prices are denominated in USD, when the new functional currency is the CAD. Immediately before the reclassification, the fair value of the warrants were remeasured using the Black-Scholes option pricing model, with the following assumptions (weighted average): expected dividend yield - <span id="xdx_909_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_pid_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zCSyawaekku1" title="Expected dividend yield">0</span>%, expected volatility - <span id="xdx_907_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zOgHRHPzrHjl" title="Expected volatility">159</span>%, risk-free interest rate – <span id="xdx_900_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zCbMkm16EEtc" title="Risk-free interest rate">0.89</span>% and an expected remaining life – <span id="xdx_900_ecustom--ExpectedLifeOfOptions_dtY_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zCBFTKZFjHnk" title="Risk-free interest rate">1.56</span> years. The Company recognized a loss in fair value change on the derivative liabilities of $<span id="xdx_90A_eifrs-full--LossesOnChangeInFairValueOfDerivatives_c20220101__20220101_zwEmz46LLZKe" title="Losses on change in fair value of derivatives">288,618</span> on January 1, 2022. As at December 31, 2022, the fair value of the warrants were remeasured at $<span id="xdx_904_ecustom--WarrantsCarryingValue_iI_uCAD_c20221231_zhCT0BuYgBJ4" title="Warrants carrying value">4,827</span> using Black-Scholes option pricing model, with the following assumptions (weighted average): expected dividend yield - <span id="xdx_90C_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_pid_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_z3IVu0FPVS7i" title="Expected dividend yield">0</span>%, expected volatility - <span id="xdx_904_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zP3BKSjycZOj" title="Expected volatility">111</span>%, risk-free interest rate – <span id="xdx_90E_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zdGx411q7D8" title="Risk-free interest rate">4.52</span>% and an expected remaining life of <span id="xdx_900_ecustom--ExpectedLifeOfOptions_dtY_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--StockOptionsMember_zmqaopHrFLN5" title="Risk-free interest rate">0.43</span> years. The Company recognized a loss on fair value change of $<span id="xdx_90E_eifrs-full--LossesOnChangeInFairValueOfDerivatives_c20220101__20221231_z0D7vi7QeyEh" title="Losses on change in fair value of derivatives">686,504</span> for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2023, the fair value of the warrants were remeasured at $<span id="xdx_903_ecustom--FairValueOfWarrantsIssued_iI_dxL_c20231231_zWFuSxMdLKjl" title="Fair value of warrants::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl3905">Nil</span></span> as all the warrants had expired. The Company recognized a gain on the fair value change of $<span id="xdx_900_eifrs-full--LossesOnChangeInFairValueOfDerivatives_c20230101__20231231_zbPq43thgw75" title="Losses on change in fair value of derivatives">4,827</span> (2022 – loss of $<span id="xdx_903_eifrs-full--LossesOnChangeInFairValueOfDerivatives_c20220101__20221231_zHEVX4aeAE84" title="Losses on change in fair value of derivatives">686,504</span>) for the year ended December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_ecustom--DisclosureOfWarrantDerivativeLiabilityExplanatory_zEAOnYLXuLnb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a continuity of the Company’s derivative warrant liability:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zVlaJvhZBTzl" style="display: none">Schedule of Warrant Derivative Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%">Balance, January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_ecustom--GainsLossesOnChangeInFairValueOfDerivative_iS_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zRFzq2oXdBk1" style="width: 18%; text-align: right" title="Beginning of the period">1,804,572</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--SharesIssuedForWarrants_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zOH4moshuKfa" style="text-align: right" title="Issued">621,500</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Extinguished</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ExtinguishedForWarrants_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zBikxsFfBrD6" style="text-align: right" title="Extinguished">(479,535</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise of warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--SharesIssuedForExerciseOfWarrants_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zSyrObXUT2qa" style="text-align: right" title="Exercise of warrants">(3,064,400</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of derivative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ChangeInFairValueOfWarrantOfDerivativesOutstanding_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zDUEYNzNR9r9" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value of derivative">1,590,762</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance, December 31, 2021</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecustom--GainsLossesOnChangeInFairValueOfDerivative_iS_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zvSDSVETmWt" style="text-align: right" title="Beginning of the period">472,899</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effect of change in functional currency</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--EffectOfChangeInFunctionalCurrencyOfWarrantOfDerivatives_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zJ4wCxD2yJtk" style="text-align: right" title="Effect of change in functional currency">(309,006</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise of warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--SharesIssuedForExerciseOfWarrants_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zBPLerHoddH5" style="text-align: right" title="Exercise of warrants">(822,950</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of derivative</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ChangeInFairValueOfWarrantOfDerivativesOutstanding_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zCFreoKtAdG9" style="text-align: right" title="Change in fair value of derivative">686,504</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--ForeignExchangeDifferenceOfWarrantOfDerivatives_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zO6i4bLg5L0j" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign exchange difference">(22,620</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecustom--GainsLossesOnChangeInFairValueOfDerivative_iS_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zfLgTDyCFY5e" style="text-align: right" title="Beginning of the period">4,827</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of derivative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--ChangeInFairValueOfWarrantOfDerivativesOutstanding_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zYO5Jo7JmLa1" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value of derivative">(4,827</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Balance, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_983_ecustom--GainsLossesOnChangeInFairValueOfDerivative_iE_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zGsRIwDKGSQ1" style="border-bottom: Black 1pt solid; text-align: right" title="End of the period"><span style="-sec-ix-hidden: xdx2ixbrl3937">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zy4fyF5KsCqh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair values for finder’s warrants granted during the years ended December 31, 2023, 2022, and 2021, have been estimated using the Black-Scholes option pricing model using the following assumptions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_ecustom--DisclosureOfMeasurementInputsAndvalidationTechniquesForWarrantsExplanatory_zHBTUttxN1Sh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zak3F6NMT289" style="display: none">Schedule of Weighted Average Assumption for Warrants</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zi3ifXVTgolh" title="Risk free interest rate">3.77</span> – <span id="xdx_90A_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_znabPyRqbI7l" title="Risk free interest rate">4.43</span></span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z5K4QSHNHLlc" title="Risk free interest rate">1.21</span> – <span id="xdx_90B_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zV0vTxZN1rI8" title="Risk free interest rate">3.13</span></span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_908_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zE3Svr2wA5ql" title="Risk free interest rate">0.16</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--ExpectedLifeOfOptions_dtY_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zTlcvOsjWsN1" title="Expected life (years)">2</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--ExpectedLifeOfOptions_dtY_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zGv66YhRRI77" title="Expected life">2</span> – <span id="xdx_907_ecustom--ExpectedLifeOfOptions_dtY_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zhQ1N00vvXff" title="Expected life">3</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--ExpectedLifeOfOptions_dtY_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zVAOhSifuLD7" title="Expected life">2</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zqLHIV6l8l4f" title="Expected volatility">101</span> – <span id="xdx_900_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_z05Dt5EGdZxa" title="Expected volatility">104</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_ztVCydCkZvr7" title="Expected volatility">154</span> – <span id="xdx_903_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zCC5I6hZOM9c" title="Expected volatility">182</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z7obCZaV5bC6" title="Expected volatility">215</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Dividend yield</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zMG0Yn1M7dte" title="Expected dividend yield">0</span></td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zVdoUjXVW1Wi" title="Expected dividend yield">0</span></td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zPb7NWcaAHL8" title="Expected dividend yield">0</span></td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p id="xdx_8AC_zZLahClAH2j" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_ecustom--DisclosureOfChangeInWarrantsExplanatory_zEJYkn6593Hj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A continuity of the Company’s outstanding share purchase warrants for the years ended December 31, 2023, 2022, and 2021 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zl5Y9liVKZr1" style="display: none">Summary of Changes in Warrants</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of <br/>warrants</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average <br/>exercise price (CAD)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Outstanding, January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zt3Hm0PogrKa" style="width: 16%; text-align: right" title="Number of purchase share outstanding, Beginning of the period">7,173,062</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zWXjsPFESgh5" style="width: 16%; text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">0.68</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_znNA1NqjwoM1" style="text-align: right" title="Warrants, Issued">2,803,533</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zL03rU4DAigi" style="text-align: right" title="Weighted Average Exercise Price, Issued">0.59</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_iN_di_uShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zrg99zirzaD" style="text-align: right" title="Warrants, Exercised">(6,254,063</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zq3GPUXQOii3" style="text-align: right" title="Weighted Average Exercise Price, Exercised">0.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zqsrXLFttQMd" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(2,153,666</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zw7bdWMQyRCb" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">0.86</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding, December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zGVje2GnYmNb" style="text-align: right" title="Number of purchase share outstanding, Beginning of the period">1,568,866</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zz5O3LAaeyqa" style="text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">0.63</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z4BFtz6gnb1d" style="text-align: right" title="Warrants, Issued">21,011,038</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zaOmLkiDkSTb" style="text-align: right" title="Weighted Average Exercise Price, Issued">2.31</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_iN_di_uShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z5SnEvGxAcp" style="text-align: right" title="Warrants, Exercised">(2,185,366</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zJL7og0f6fqj" style="text-align: right" title="Weighted Average Exercise Price, Exercised">0.87</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zqqCFlKP7EHk" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(7,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zoSsPQiAk3Ee" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">0.50</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding, December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zGhGp4hqBotj" style="text-align: right" title="Number of purchase share outstanding, Beginning of the period">20,387,538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zd83t4Na7Cel" style="text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">2.33</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zg3f1AsEZ8Tl" style="text-align: right" title="Warrants, Issued">7,402,726</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zXGXDHrvlYl3" style="text-align: right" title="Weighted Average Exercise Price, Issued">1.88</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z2AHC4boOqM2" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(10,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zQPG1uXJl1s4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">2.17</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Outstanding, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iE_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zKceVd257vAh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of purchase share outstanding, Ending of the period">27,780,264</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iE_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z59Hs3lNj9md" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Outstanding, Ending Balance">2.21</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 7173062 0.68 2803533 0.59 6254063 0.60 2153666 0.86 1568866 0.63 21011038 2.31 2185366 0.87 7000 0.50 20387538 2.33 7402726 1.88 10000 2.17 27780264 2.21 <p id="xdx_893_ecustom--DisclosureOfSharebasedPaymentArrangementsForPurchaseWarrantsOutstandingExplanatory_z6pfcPQqFWA6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At December 31, 2023, the Company had the following outstanding share purchase warrants:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zgZOqd6UaP04" style="display: none">Schedule of Purchase Warrants Outstanding</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantOneMember_zoFD2o1wEUAf" style="width: 16%; text-align: right" title="Number of warrants outstanding">4,341,088</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 22%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantOneMember_zelrP0hkYG5e" title="Compensation warrants, exercise price">2.25</span> CAD </span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 54%; text-align: right"><span id="xdx_909_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantOneMember_zV4TZT14TzC2" title="Expiry date">March 15, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_986_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwoMember_zTEtQ4hOM5vd" style="text-align: right" title="Number of warrants outstanding">676,788</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwoMember_zWnAXYVPOB7k" title="Compensation warrants, exercise price">2.25</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90A_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwoMember_zXjL5etHXMR5" title="Expiry date">March 16, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_985_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantThreeMember_z5qGHKczDlO" style="text-align: right" title="Number of warrants outstanding">590,909</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantThreeMember_zgQOzNTV4Y31" title="Compensation warrants, exercise price">2.25</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_907_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantThreeMember_z5BFV98biSud" title="Expiry date">March 17, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_983_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFourMember_zPbRklcpmoki" style="text-align: right" title="Number of warrants outstanding">2,122,825</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFourMember_zpKHXoga3HZa" title="Compensation warrants, exercise price">2.25</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_901_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFourMember_zH79TLpspCx6" title="Expiry date">March 18, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_987_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFiveMember_zykmJK8sFs8" style="text-align: right" title="Number of warrants outstanding">4,286,351</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFiveMember_zCgRtUhFJy0f" title="Compensation warrants, exercise price">2.25</span> CAD </span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_903_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFiveMember_zxlaOAHq55G4" title="Expiry date">March 24, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSixMember_zPl2i2pmypQ3" style="text-align: right" title="Number of warrants outstanding">530,600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSixMember_zERQhRP4X2Jj" title="Compensation warrants, exercise price">2.25</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_906_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSixMember_zCGUwAYTBhha" title="Expiry date">March 28, 2024</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_980_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSevenMember_z4gpTCIwqtrj" style="text-align: right" title="Number of warrants outstanding">12,529,690</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSevenMember_zJ11TjFS8kfa" title="Compensation warrants, exercise price">2.50</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_906_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSevenMember_zsC18YDZKh1j" title="Expiry date">June 29, 2025</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_982_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantEightMember_zwwMxeo5oCd2" style="text-align: right" title="Number of warrants outstanding">300,288</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantEightMember_zkXnuxXbArNf" title="Compensation warrants, exercise price">1.55</span> CAD </span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90A_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantEightMember_zz6nBoB4Xjv9" title="Expiry date">June 29, 2025</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_988_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantNineMember_zo7j88v7fWlf" style="text-align: right" title="Number of warrants outstanding">300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantNineMember_zl4vURkAP1Sk" title="Compensation warrants, exercise price">2.50</span> CAD</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90A_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantNineMember_z4t3MaLDp1dh" title="Expiry date">April 20, 2025</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTenMember_zCoUPSy8F3Al" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants outstanding">2,101,726</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTenMember_zHX1OPgS3oja" title="Compensation warrants, exercise price">0.30</span> CAD</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"><span id="xdx_90F_ecustom--WarrantExpiryDate_dd_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTenMember_z7QghTaBKno3" title="Expiry date">November 28, 2025</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zWF94TfAyDAj" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants outstanding">27,780,265</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td></tr> </table> 4341088 2.25 2024-03-15 676788 2.25 2024-03-16 590909 2.25 2024-03-17 2122825 2.25 2024-03-18 4286351 2.25 2024-03-24 530600 2.25 2024-03-28 12529690 2.50 2025-06-29 300288 1.55 2025-06-29 300000 2.50 2025-04-20 2101726 0.30 2025-11-28 27780265 P0Y11M12D P1Y8M15D P1Y7M17D 15000 1.60 P24M 15616 755250 472899 813616 163162 0 1.59 0.0089 P1Y6M21D 288618 4827 0 1.11 0.0452 P0Y5M4D 686504 4827 686504 <p id="xdx_89C_ecustom--DisclosureOfWarrantDerivativeLiabilityExplanatory_zEAOnYLXuLnb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a continuity of the Company’s derivative warrant liability:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zVlaJvhZBTzl" style="display: none">Schedule of Warrant Derivative Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%">Balance, January 1, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_ecustom--GainsLossesOnChangeInFairValueOfDerivative_iS_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zRFzq2oXdBk1" style="width: 18%; text-align: right" title="Beginning of the period">1,804,572</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--SharesIssuedForWarrants_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zOH4moshuKfa" style="text-align: right" title="Issued">621,500</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Extinguished</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ExtinguishedForWarrants_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zBikxsFfBrD6" style="text-align: right" title="Extinguished">(479,535</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise of warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--SharesIssuedForExerciseOfWarrants_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zSyrObXUT2qa" style="text-align: right" title="Exercise of warrants">(3,064,400</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of derivative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ChangeInFairValueOfWarrantOfDerivativesOutstanding_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zDUEYNzNR9r9" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value of derivative">1,590,762</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance, December 31, 2021</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecustom--GainsLossesOnChangeInFairValueOfDerivative_iS_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zvSDSVETmWt" style="text-align: right" title="Beginning of the period">472,899</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effect of change in functional currency</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--EffectOfChangeInFunctionalCurrencyOfWarrantOfDerivatives_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zJ4wCxD2yJtk" style="text-align: right" title="Effect of change in functional currency">(309,006</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise of warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--SharesIssuedForExerciseOfWarrants_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zBPLerHoddH5" style="text-align: right" title="Exercise of warrants">(822,950</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of derivative</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ChangeInFairValueOfWarrantOfDerivativesOutstanding_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zCFreoKtAdG9" style="text-align: right" title="Change in fair value of derivative">686,504</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--ForeignExchangeDifferenceOfWarrantOfDerivatives_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zO6i4bLg5L0j" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign exchange difference">(22,620</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecustom--GainsLossesOnChangeInFairValueOfDerivative_iS_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zfLgTDyCFY5e" style="text-align: right" title="Beginning of the period">4,827</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of derivative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--ChangeInFairValueOfWarrantOfDerivativesOutstanding_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zYO5Jo7JmLa1" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value of derivative">(4,827</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Balance, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_983_ecustom--GainsLossesOnChangeInFairValueOfDerivative_iE_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantsMember_zGsRIwDKGSQ1" style="border-bottom: Black 1pt solid; text-align: right" title="End of the period"><span style="-sec-ix-hidden: xdx2ixbrl3937">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 1804572 621500 -479535 -3064400 1590762 472899 -309006 -822950 686504 -22620 4827 -4827 <p id="xdx_89C_ecustom--DisclosureOfMeasurementInputsAndvalidationTechniquesForWarrantsExplanatory_zHBTUttxN1Sh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zak3F6NMT289" style="display: none">Schedule of Weighted Average Assumption for Warrants</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zi3ifXVTgolh" title="Risk free interest rate">3.77</span> – <span id="xdx_90A_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_znabPyRqbI7l" title="Risk free interest rate">4.43</span></span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z5K4QSHNHLlc" title="Risk free interest rate">1.21</span> – <span id="xdx_90B_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zV0vTxZN1rI8" title="Risk free interest rate">3.13</span></span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_908_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zE3Svr2wA5ql" title="Risk free interest rate">0.16</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--ExpectedLifeOfOptions_dtY_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zTlcvOsjWsN1" title="Expected life (years)">2</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--ExpectedLifeOfOptions_dtY_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zGv66YhRRI77" title="Expected life">2</span> – <span id="xdx_907_ecustom--ExpectedLifeOfOptions_dtY_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zhQ1N00vvXff" title="Expected life">3</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--ExpectedLifeOfOptions_dtY_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zVAOhSifuLD7" title="Expected life">2</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zqLHIV6l8l4f" title="Expected volatility">101</span> – <span id="xdx_900_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_z05Dt5EGdZxa" title="Expected volatility">104</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_ztVCydCkZvr7" title="Expected volatility">154</span> – <span id="xdx_903_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zCC5I6hZOM9c" title="Expected volatility">182</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z7obCZaV5bC6" title="Expected volatility">215</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Dividend yield</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zMG0Yn1M7dte" title="Expected dividend yield">0</span></td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zVdoUjXVW1Wi" title="Expected dividend yield">0</span></td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zPb7NWcaAHL8" title="Expected dividend yield">0</span></td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> 0.0377 0.0443 0.0121 0.0313 0.0016 P2Y P2Y P3Y P2Y 1.01 1.04 1.54 1.82 2.15 0 0 0 <p id="xdx_80D_ecustom--DisclosureOfRestrictedStockUnitsExplanatory_zLt9GxZJT5pf" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_823_zspreuRpzEdb">Restricted Stock Units</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company granted RSUs as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 1, 2023, the Company granted <span id="xdx_90A_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20230101__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z43uc9ojooT1" title="Number of options vested">256,800</span> RSU’s which vest quarterly beginning January 1, 2023.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 11, 2023, the Company granted <span id="xdx_903_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230511__20230511__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zE0e96OKPoJ" title="Number of options vested">601,000</span> RSU’s which vested immediately.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 6, 2023, the Company granted <span id="xdx_902_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230706__20230706__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zRBlW9hrkpEf" title="Number of options vested">75,000</span> RSU’s, which vested immediately.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 2, 2023, the Company granted <span id="xdx_903_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230902__20230902__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zKKr4WNijmkc" title="Number of options vested">75,464</span> RSU’s, which vested immediately.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 15, 2023, the Company granted <span id="xdx_901_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230915__20230915__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z3FAYd6WoJqk" title="Number of options vested">452,785</span> RSU’s, which vested immediately.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 17, 2023, the Company granted <span id="xdx_903_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20231017__20231017__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zB8XuLlOu9pf" title="Number of options vested">650,000</span> RSU’s, which vested immediately.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 31, 2023, the Company granted <span id="xdx_90F_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20231231__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zt19lxyZYSG2" title="Number of options vested">1,365,610</span> RSUs, which vested immediately.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended December 31, 2023, the Company recognized $<span id="xdx_908_eifrs-full--IncreaseDecreaseThroughSharebasedPaymentTransactions_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zPwpVV5233Zf" title="Stock based compensation expenses">2,279,059</span> (2022 - $<span id="xdx_90D_eifrs-full--IncreaseDecreaseThroughSharebasedPaymentTransactions_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zoqMSPC6bBg7" title="Stock based compensation expenses">697,650</span> and 2021 - $<span id="xdx_90F_eifrs-full--IncreaseDecreaseThroughSharebasedPaymentTransactions_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zftpEr3cMkN2" title="Stock based compensation expenses">211,975</span>) in stock-based compensation expense for RSUs granted and vested.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_ecustom--DisclosureOfInformationAboutRestrictedStockUnitsExplanatory_zeczUGmHBYEa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zHeKDWc6paw6" style="display: none">Schedule of Restricted Stock Units</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of unvested <br/> restricted stock units</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average<br/> fair value per award</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Balance, December 31, 2020</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfOutstandingShareOptions_iS_pid_uShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zm6NNaEQMxE" style="text-align: right" title="Number of restricted stock units, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3999">–</span></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_98E_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zEPVL0EhoWdc" style="font-weight: bold; text-align: right" title="Weighted average fair value per award, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl4001">–</span></td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: justify">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pid_uShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z09C4gzHynIl" style="width: 16%; text-align: right" title="Number of restricted stock units, Granted">265,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zgOj01xOz92c" style="width: 16%; text-align: right" title="Weighted average fair value per award, Granted">0.80</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_pid_uShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zKskESTDAUTh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Vested">(265,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--WeightedAverageExercisePriceOfShareOptionsVestedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zFuCdYd201m4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Vested">0.80</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Balance, December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eifrs-full--NumberOfOutstandingShareOptions_iS_pid_uShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zmhhproUmA4h" style="text-align: right" title="Number of restricted stock units, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl4011">–</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zpzgmbORV5s7" style="text-align: right" title="Weighted average fair value per award, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl4013">–</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pid_uShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_ziGqQd8lVKA2" style="text-align: right" title="Number of restricted stock units, Granted">885,012</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_ze1o1aM2RRx1" style="text-align: right" title="Weighted average fair value per award, Granted">1.10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_pid_uShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zqgh8M3DOe8f" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Vested">(885,012</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--WeightedAverageExercisePriceOfShareOptionsVestedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zQCOcq1ipfOh" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Vested">1.10</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Balance, December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOutstandingShareOptions_iS_pid_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zbyjLcod2zbh" style="text-align: right" title="Number of restricted stock units, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl4023">–</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zleGaJ5qBzg3" style="text-align: right" title="Weighted average fair value per award, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl4025">–</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pid_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zzQGTMzD5zg6" style="text-align: right" title="Number of restricted stock units, Granted">3,476,659</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zRmUTz2XrGYd" style="text-align: right" title="Weighted average fair value per award, Granted">0.81</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Canceled</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pid_di_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zgcKNhlvpazj" style="text-align: right" title="Number of restricted stock units, Canceled">(30,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zuCZWhOKg7U1" style="text-align: right" title="Weighted average fair value per award, Canceled">2.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_pid_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z7akuZZw9N2a" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Vested">(3,446,659</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--WeightedAverageExercisePriceOfShareOptionsVestedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zDDFpqRmlQ34" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Vested">0.80</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfOutstandingShareOptions_iE_pid_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z28pf3ISY02j" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Ending balance"><span style="-sec-ix-hidden: xdx2ixbrl4039">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iE_uCADPShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z0kPBC11Bkq7" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Ending balance"><span style="-sec-ix-hidden: xdx2ixbrl4041">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zuFQuIwpCVYi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company previously granted certain RSU’s whereby the holder has the right and option to require the Company to withhold up to one third of the RSU shares awarded to pay the cash equivalent of the market price of the shares on the date of vesting. As a result, a portion of the value of the RSU’s is recorded as a RSU obligation liability. As at December 31, 2023, the balance of the RSU obligation was $<span id="xdx_908_eifrs-full--DefinedBenefitObligationAtPresentValue_iI_c20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zYWNRYaCW3yd" title="Obligaton">18,398</span> (December 31, 2022 - $<span id="xdx_906_eifrs-full--DefinedBenefitObligationAtPresentValue_iI_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zc5DhpSGnHA" title="Obligaton">295,747</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company repurchased <span id="xdx_904_ecustom--NumberOfShareOptionsRepurchasedPayment_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zeDvOk92MEfc" title="Repurchased RSU's shares">667,868</span> RSU’s for $<span id="xdx_901_ecustom--RepurchasedFairValue_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zYPFUAfF1yAh" title="Repurchase fair value">993,136</span>, equaling the fair value of the Company’s shares at the time of repurchase and did not recognize any gain or loss on the transaction. As a result of the transaction, the Company recognized a reduction to equity of $<span id="xdx_90D_ecustom--StockIssuedDuringPeriodRestrictedStockReductionEquity_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zlVWuXvnSJNj" title="Reduction equity">919,790</span> and a reduction to the RSU obligation liability of $<span id="xdx_909_eifrs-full--DefinedBenefitObligationAtPresentValue_iI_c20231231_zZlBxKUNjFU2" title="Obligaton">73,346</span>. Outstanding notes receivable of $<span id="xdx_902_ecustom--StockIssuedDuringPeriodRestrictedStockUnitRepurchased_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z7gpthkJh4he" title="Repurchase value">604,537</span> were settled through the RSU’s repurchased (Note 14).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company recorded an obligation to issue shares of $<span id="xdx_90D_ecustom--NumberOfShareIssuedObligation_iI_uShares_c20231231_zK7AxE0Mp5v5" title="Issuance of shares obligation">283,094</span> relating to the accrual of <span id="xdx_900_ecustom--NumberOfShareIssuedObligationAccrual_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zQHCefgxzOU5" title="Issuance of shares obligation accrual">1,365,610</span> RSUs owed to a consultant and to a related party of the Company as a bonus for additional services provided during the 2023 fiscal year. As at December 31, 2023, the Company had <span id="xdx_90C_ecustom--NumberOfShareIssuanceOfOutstanding_iI_uShares_c20231231_zqJCxStC7Wk8" title="Issuance of private placement shares">1,518,010</span> RSU’s (December 31, 2022 – <span id="xdx_901_ecustom--NumberOfShareIssuanceOfOutstanding_iI_uShares_c20221231_z5xPn7ejnWQi" title="Issuance of private placement shares">675,012</span>) outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 256800 601000 75000 75464 452785 650000 1365610 2279059 697650 211975 <p id="xdx_891_ecustom--DisclosureOfInformationAboutRestrictedStockUnitsExplanatory_zeczUGmHBYEa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zHeKDWc6paw6" style="display: none">Schedule of Restricted Stock Units</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of unvested <br/> restricted stock units</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average<br/> fair value per award</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Balance, December 31, 2020</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfOutstandingShareOptions_iS_pid_uShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zm6NNaEQMxE" style="text-align: right" title="Number of restricted stock units, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3999">–</span></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_98E_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zEPVL0EhoWdc" style="font-weight: bold; text-align: right" title="Weighted average fair value per award, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl4001">–</span></td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: justify">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pid_uShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z09C4gzHynIl" style="width: 16%; text-align: right" title="Number of restricted stock units, Granted">265,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zgOj01xOz92c" style="width: 16%; text-align: right" title="Weighted average fair value per award, Granted">0.80</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_pid_uShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zKskESTDAUTh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Vested">(265,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--WeightedAverageExercisePriceOfShareOptionsVestedInSharebasedPaymentArrangement2019_uCADPShares_c20210101__20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zFuCdYd201m4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Vested">0.80</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Balance, December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eifrs-full--NumberOfOutstandingShareOptions_iS_pid_uShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zmhhproUmA4h" style="text-align: right" title="Number of restricted stock units, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl4011">–</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zpzgmbORV5s7" style="text-align: right" title="Weighted average fair value per award, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl4013">–</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pid_uShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_ziGqQd8lVKA2" style="text-align: right" title="Number of restricted stock units, Granted">885,012</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_ze1o1aM2RRx1" style="text-align: right" title="Weighted average fair value per award, Granted">1.10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_pid_uShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zqgh8M3DOe8f" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Vested">(885,012</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--WeightedAverageExercisePriceOfShareOptionsVestedInSharebasedPaymentArrangement2019_uCADPShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zQCOcq1ipfOh" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Vested">1.10</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Balance, December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfOutstandingShareOptions_iS_pid_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zbyjLcod2zbh" style="text-align: right" title="Number of restricted stock units, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl4023">–</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zleGaJ5qBzg3" style="text-align: right" title="Weighted average fair value per award, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl4025">–</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pid_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zzQGTMzD5zg6" style="text-align: right" title="Number of restricted stock units, Granted">3,476,659</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zRmUTz2XrGYd" style="text-align: right" title="Weighted average fair value per award, Granted">0.81</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Canceled</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pid_di_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zgcKNhlvpazj" style="text-align: right" title="Number of restricted stock units, Canceled">(30,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zuCZWhOKg7U1" style="text-align: right" title="Weighted average fair value per award, Canceled">2.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_pid_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z7akuZZw9N2a" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Vested">(3,446,659</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--WeightedAverageExercisePriceOfShareOptionsVestedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zDDFpqRmlQ34" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Vested">0.80</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfOutstandingShareOptions_iE_pid_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z28pf3ISY02j" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Ending balance"><span style="-sec-ix-hidden: xdx2ixbrl4039">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iE_uCADPShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z0kPBC11Bkq7" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Ending balance"><span style="-sec-ix-hidden: xdx2ixbrl4041">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 265000 0.80 -265000 0.80 885012 1.10 -885012 1.10 3476659 0.81 30000 2.00 -3446659 0.80 18398 295747 667868 993136 919790 73346 604537 283094 1365610 1518010 675012 <p id="xdx_806_eifrs-full--DisclosureOfRelatedPartyExplanatory_zdOON9PhqD8h" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82C_zlJTjIuDhZI">Related Party Transactions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 10, 2023, the Company’s Board of Directors approved a new compensation plan for the directors of the Company effective January 1, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At December 31, 2023, accounts payable and accrued liabilities included $<span id="xdx_90B_eifrs-full--AmountsPayableRelatedPartyTransactions_iI_c20231231_zv3a3AR9lqC3" title="Due to related parties">115,526</span> (December 31, 2022 - $<span id="xdx_901_eifrs-full--AmountsPayableRelatedPartyTransactions_iI_c20221231_zezlUMUhTi2h" title="Due to related parties">210,070</span> and December 31, 2021 - $<span id="xdx_904_eifrs-full--AmountsPayableRelatedPartyTransactions_iI_c20211231_z4s7IoG0H9o9" title="Due to related parties">13,831</span>) due to related parties. The amounts are unsecured, non-interest bearing and due on demand.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, management fees and salaries of $<span id="xdx_903_eifrs-full--PortfolioAndOtherManagementFeeIncome_c20230101__20231231_z6WmQLjURGpc" title="Management fees">924,083</span> (2022 - $<span id="xdx_903_eifrs-full--PortfolioAndOtherManagementFeeIncome_c20220101__20221231_zRYKxBJvs9F4" title="Management fees">711,766</span> and 2021 - $<span id="xdx_90E_eifrs-full--PortfolioAndOtherManagementFeeIncome_c20210101__20211231_zGpa8bKgJpXd" title="Management fees">438,000</span>), director fees of $<span id="xdx_907_eifrs-full--ProfessionalFeesExpense_c20230101__20231231__ifrs-full--CounterpartiesAxis__custom--DirectorFeesMember_zLbB6cIdkkW7" title="Director fees">145,500</span> (2022 - $<span id="xdx_902_eifrs-full--ProfessionalFeesExpense_c20220101__20221231__ifrs-full--CounterpartiesAxis__custom--DirectorFeesMember_zMqs1WcdtHp5" title="Director fees">92,000</span> and 2021 - $<span id="xdx_908_eifrs-full--ProfessionalFeesExpense_c20210101__20211231__ifrs-full--CounterpartiesAxis__custom--DirectorFeesMember_ziaJ26Glb1og" title="Director fees">72,000</span>), consulting fees of $<span id="xdx_90D_ecustom--ConsultingFees_c20230101__20231231_zRBHN6yIVjM6" title="Consulting fees">52,313</span> (2022 - $<span id="xdx_90E_ecustom--ConsultingFees_dxL_c20220101__20221231_zvWgGlKfyyj4" title="Consulting fees::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4087">Nil</span></span> and 2021 - $<span id="xdx_909_ecustom--ConsultingFees_dxL_c20210101__20211231_zPwbLAmV6Zbh" title="Consulting fees::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4089">Nil</span></span>), and stock-based compensation of $<span id="xdx_901_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_uUSD_c20230101__20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zHDktzFq4g6l" title="Stock based compensation">1,294,051</span> (2022 - $<span id="xdx_904_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_uUSD_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zLiizUxYKY0h" title="Stock based compensation">926,119</span> and 2021 - $<span id="xdx_908_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_dxL_uUSD_c20210101__20211231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zPdjOCs37cn1" title="Stock based compensation::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4095">Nil</span></span>) were incurred to related parties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company issued <span id="xdx_90B_eifrs-full--NumberOfSharesIssued_iI_c20231231__ifrs-full--CounterpartiesAxis__custom--DirectorsMember_zN3uORroQNmc">808,680</span> shares to directors for services performed and for RSU’s which were granted and vested in previous periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company issued <span id="xdx_905_eifrs-full--NumberOfSharesIssued_iI_uShares_c20231231_zkgRwq0h9Jqb">80,000</span> shares with a fair value of $<span id="xdx_90E_eifrs-full--TradeAndOtherPayables_iI_c20231231_zJaPPBq1mRHd">115,304</span> to a director to settle debt of CAD$<span id="xdx_906_ecustom--SettleOfDebt_uCAD_c20230101__20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zxntbmkfXVgj">160,000</span> (USD$ $<span id="xdx_903_ecustom--SettleOfDebt_uUSD_c20230101__20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zA9xjm2bKBYc" title="Settle of debt">118,261</span>) and recognized a gain on the settlement of $<span id="xdx_904_ecustom--SettleOfDebt_c20230101__20231231_zvxBzzhXIvcj" title="Settle of debt">2,957</span>. During the year ended December 31, 2022, the Company issued <span id="xdx_907_eifrs-full--NumberOfSharesIssued_iI_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zUV3UcDO1Rc4" title="Shares issued">400,000</span> (2021 – <span id="xdx_90E_eifrs-full--NumberOfSharesIssued_iI_c20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zVx1Tik3vUL3" title="Shares issued">283,333</span>) units with a fair value of $<span id="xdx_901_eifrs-full--TradeAndOtherPayables_iI_c20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zCpyCMvDtqQ1" title="Trade and other payables">260,681</span> (2021 - $<span id="xdx_906_eifrs-full--TradeAndOtherPayables_iI_c20211231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_z3piBoy4EAR9" title="Trade and other payables">70,833</span>) for the settlement of accounts payable owed to related parties in the amount of $<span id="xdx_90D_ecustom--EquityReduction_iI_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zmDQNY1wHvTd" title="Reduction to equity">260,681</span> (2021 - $<span id="xdx_90C_ecustom--EquityReduction_iI_c20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zM9hRe2kNzYf" title="Reduction to equity">70,833</span>), resulting in no gain or loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, the Company issued <span id="xdx_904_eifrs-full--NumberOfSharesIssued_iI_dxL_uShares_c20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zNx7SOaFwEb6" title="::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4116">Nil</span></span> (2021 – <span id="xdx_907_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zkf7B9oC4DP5">1,029,333</span>) common shares relating to the exercise of <span id="xdx_901_eifrs-full--NumberOfSharesIssued_iI_dxL_uShares_c20221231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zUIUltAvPLw5" title="::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4118">Nil</span></span> (2021 – <span id="xdx_901_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zktKUHjYSGAb">895,333</span>) warrants and <span id="xdx_909_eifrs-full--NumberOfSharesIssued_iI_dxL_uShares_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--StockOptionsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zclhI5OahnPc" title="::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4120">Nil</span></span> (2021 – <span id="xdx_902_eifrs-full--NumberOfSharesIssued_iI_uShares_c20211231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--StockOptionsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zQDPe8EPARTb">134,000</span>) options held by related parties. As consideration, the Company entered into promissory note agreements with the related parties for total principal receivable by the Company of $<span id="xdx_90A_eifrs-full--DebtSecurities_iI_dxL_c20221231__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zSOHW3LWoN76" title="Principal amount::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4123">Nil</span></span> (2021 - $<span id="xdx_905_eifrs-full--DebtSecurities_iI_c20211231__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zbVJVRlgz0d4" title="Principal amount">518,820</span> (CAD$<span id="xdx_906_eifrs-full--DebtSecurities_iI_uCAD_c20211231__ifrs-full--TypesOfContractsAxis__custom--PromissoryNoteAgreementsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zfWdUsQGLg8h" title="Principal amount">648,078</span>)). Refer to Note 14.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company repurchased <span id="xdx_903_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CounterpartiesAxis__custom--DirectorsMember_zuo3PcOGESb4" title="Vested shares issued">586,868</span> RSU’s from directors and recognized a reduction to equity of $<span id="xdx_909_ecustom--EquityReduction_iI_c20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CounterpartiesAxis__custom--DirectorsMember_zFQxj056KZ86" title="Reduction to equity">799,212</span> on the transaction. $<span id="xdx_907_ecustom--RepurchasedOutstandingReceivable_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CounterpartiesAxis__custom--DirectorsMember_zdQGn0yQfD5k" title="Reduction to equity">473,331</span> of the RSU’s repurchased was applied against outstanding notes receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2023, notes receivable included $<span id="xdx_902_eifrs-full--NotesAndDebenturesIssued_iI_dxL_c20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zd6Jlq3Rov21" title="Notes receivables::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4135">Nil</span></span> (December 31, 2022 - $<span id="xdx_905_eifrs-full--NotesAndDebenturesIssued_iI_c20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zisEZdGxzzM3" title="Notes receivables">450,325</span> and December 31, 2021 - $<span id="xdx_902_eifrs-full--NotesAndDebenturesIssued_iI_c20211231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zKP0yC4kxh3a" title="Notes receivables">517,985</span>) due from related parties. The amounts previously receivable were unsecured, bear interest at <span id="xdx_902_ecustom--ReceivableInterestRate_iI_pid_dp_c20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zFhVbKbJPgEg" title="Receivable interest rate">5%</span> per annum and mature one to two years from issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2023, notes payable included CAD$<span id="xdx_90A_eifrs-full--Borrowings_iI_uCAD_c20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zG7PTIzi4LNg" title="Notes payable">402,115</span> (USD$<span id="xdx_90E_eifrs-full--Borrowings_iI_uUSD_c20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_z4Tb1YMXXaB7" title="Notes payable">420,281</span>) (December 31, 2022 - $<span id="xdx_907_eifrs-full--Borrowings_iI_dxL_uUSD_c20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_z6nSLxDqlQx6" title="Notes payable::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4147">Nil</span></span>) due to related parties. The note payable is unsecured, bears interest at <span id="xdx_90E_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--OfficerMember_zmFAbMwGbH7a" title="Interest rate">6%</span> per annum and matures on <span id="xdx_907_eifrs-full--BorrowingsMaturity_uShares_c20230101__20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zaT8cMzGgJK5" title="Maturity date">December 31, 2024</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2022, pursuant to agreements between four directors and the Company, each of the four directors shall be granted <span id="xdx_905_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_z492Kfa8BtA2" title="Number of share options granted in share-based payment arrangement">40,000</span> fully vested RSUs upon each anniversary of the contract and three of the four directors shall be granted <span id="xdx_908_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zKal9sOK6u5l" title="Vested shares issued">50,000</span> fully vested RSUs upon successful spudding of the first well by the Company. For two of the four directors, the amount of RSUs shall be indexed pro-rata to account for any dilution incurred by subsequent share issuance by the Company. During the year ended December 31, 2022, the Company issued <span id="xdx_90B_eifrs-full--NumberOfSharesIssued_iI_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--DirectorMember_zfrYAhgBjTXe">80,000</span> shares with a fair value of $<span id="xdx_90F_ecustom--NumberOfSharesIssuedValue_iI_c20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--DirectorMember_zfkeIsPnbuG1" title="Number of shares issued , value">19,077</span> for the RSU’s to one of the directors. The shares for the remainder of the RSU’s granted under the agreements were either issued or the underlying RSU’s were repurchased in 2023. The value of these RSUs and the stock-based compensation recognized is $<span id="xdx_90F_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_uUSD_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_ztwn2JGjJZFb" title="Stock based compensation">255,206</span>. $<span id="xdx_906_ecustom--NumberOfSharesReserves_iI_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zuwLbT1CBxr7" title="Number of shares reserves">65,160</span> has been recorded to reserves as at December 31, 2022 and $<span id="xdx_900_ecustom--RestrictedStockUnitObligation_iI_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zB8GwYfp93Z2" title="Restricted stock unit obligation liability">190,047</span> has been recorded as a RSU obligation liability as the directors have the right and option to require the Company to withhold up to one third of the RSU shares awarded to pay the director the cash equivalent of the market price of the shares on the date of vesting.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Related Party Transactions (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2022, a director of the Company was granted <span id="xdx_90B_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_uShares_c20220101__20221231__ifrs-full--CounterpartiesAxis__custom--DirectorsMember_zvp6BpH4egad" title="Number of share options granted in share-based payment arrangement">12,000</span> RSUs for services performed. The value of these RSUs and the stock-based compensation recognized is $<span id="xdx_909_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_uUSD_c20220101__20221231__ifrs-full--CounterpartiesAxis__custom--DirectorsMember_zQQF1851GWTg" title="Stock based compensation">21,283</span>. As at December 31, 2022, the shares for these RSUs had not been issued. $<span id="xdx_900_ecustom--NumberOfSharesReserves_iI_c20221231_zqSiKxrXfiR7" title="Number of shares reserves">14,189</span> has been recorded to reserves as at December 31, 2022 and $<span id="xdx_902_ecustom--RestrictedStockUnitObligation_iI_c20221231__ifrs-full--CounterpartiesAxis__custom--DirectorsMember_zYTc1JpO20Tg" title="Restricted stock unit obligation liability">7,094</span> has been recorded as a RSU obligation liability as the director has the right and option to require the Company to withhold up to one third of the RSU shares awarded to pay the director the cash equivalent of the market price of the shares on the date of vesting.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 2, 2020, the CEO signed an employment agreement with the Company in which the CEO shall receive:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20200902__20200902__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember_zmhuxWyvZsOl" title="Vested shares issued">20,000</span> fully vested RSUs upon the first anniversary of the agreement. The amount of RSUs shall be indexed pro-rata to account for any dilution incurred by subsequent share issuances by the Company;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If during the term of the Agreement, the Company completes any cash financing of $<span id="xdx_902_eifrs-full--ProceedsFromExerciseOfOptions_c20200902__20200902__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember_zWHUl3sFEEGd" title="Proceeds from stock plans">5,000,000</span>, the Company shall issue <span id="xdx_90B_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_uShares_c20200902__20200902__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember_zuZ3KyNgwnFh" title="Number of share options granted in share-based payment arrangement">50,000</span> fully vested RSUs and $<span id="xdx_90A_eifrs-full--ProceedsFromExerciseOfOptions_c20200902__20200902__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember__srt--RangeAxis__ifrs-full--BottomOfRangeMember_zgMXQdvxXvWc" title="Proceeds from stock plans">25,000</span> for each $<span id="xdx_903_eifrs-full--ProceedsFromExerciseOfOptions_c20200902__20200902__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember__srt--RangeAxis__ifrs-full--TopOfRangeMember_zOlfpZg09bIh" title="Proceeds from stock plans">5,000,000</span> raised.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon spudding of the first well by the Company, the Company shall grant <span id="xdx_907_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220915__20220915__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember_z7Ygrx4V4xc8" title="Vested shares issued">50,000</span> fully vested RSUs and <span id="xdx_907_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220915__20220915__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember_zkdQhtEB2oEc" title="Vested shares issued">50,000</span> fully vested RSUs every anniversary of the spud date (condition was met on September 15, 2022). This amount is indexed pro-rata to account for any dilution incurred by subsequent share issuances by the Company; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If during the term of the Agreement, the Company enters into any non-financing transaction, a cash bonus of USD$<span id="xdx_901_eifrs-full--WagesAndSalaries_uUSD_c20220915__20220915__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember_zoxv0Q2UepTe" title="Cash bonus">100,000</span> is owed upon the successful closing.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The value of these RSUs and the stock-based compensation recognized is $<span id="xdx_904_ecustom--StockBasedCompensation_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember_z8O9aQhzGeOb" title="Stock based compensation">295,818</span>. As at December 31, 2022, the shares for these RSUs have not been issued. $<span id="xdx_906_ecustom--RestrictedStockUnits_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember_zDIIKeZfl1Cd" title="Restricted stock units">197,212</span> has been recorded to reserves as at December 31, 2022 and $<span id="xdx_90F_ecustom--RestrictedStockUnitObligation_iI_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefExecutiveOfficerMember_zM6Gz0KjQqVg" title="Restricted stock unit obligation liability">98,606</span> has been recorded as a RSU obligation liability as the CEO has the right and option to require the Company to withhold up to one third of the RSU shares awarded to pay the CEO the cash equivalent of the market price of the shares on the date of vesting. As at December 31, 2023, the shares for these RSUs have either been issued or the underlying RSUs were repurchased by the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 15, 2022, the CFO signed an employment agreement with the Company in which the CFO shall receive:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220715__20220715__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsFirstAnniversaryAgreementMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember_zCMjVmKCQu62" title="Vested shares issued">20,000</span> fully vested RSUs upon the first anniversary of the agreement;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220715__20220715__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsSecondAnniversaryAgreementMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember_zmyDEInnkjb1" title="Vested shares issued">30,000</span> fully vested RSUs upon the second anniversary of the agreement;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For each subsequent year, the number of RSUs is determined in context of the market price of the shares and in respect to the performance of the Company;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A bonus of <span id="xdx_90A_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220715__20220715__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zTsmogug71Ff" title="Vested shares issued">20,000</span> RSUs plus the sum of $<span id="xdx_90E_eifrs-full--WagesAndSalaries_uUSD_c20220715__20220715__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsSecondAnniversaryAgreementMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zf5OoNQ33Dk7" title="Cash bonus">15,000</span> cash paid upon the successful completion of the Company’s phase A drilling program at the SASB gas field;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A bonus of <span id="xdx_908_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220715__20220715__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--SASBPhaseBMember_zOGfqq2sD4nb" title="Vested shares issued">25,000</span> RSUs plus the sum of $<span id="xdx_908_eifrs-full--WagesAndSalaries_uUSD_c20220715__20220715__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsSecondAnniversaryAgreementMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--SASBPhaseBMember_zB9a65WrECse" title="Cash bonus">20,000</span> cash paid upon the successful completion of at least an additional seven wells as part of the Company’s phase B drilling program at the SASB gas field; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A bonus of $<span id="xdx_903_eifrs-full--WagesAndSalaries_uUSD_c20220715__20220715__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--SASBPhaseAMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--SASBPhaseBMember_zX83cWYln6pe" title="Cash bonus">25,000</span> cash upon the executive arranging a credit line for SASB of at least $<span id="xdx_900_eifrs-full--WagesAndSalaries_uUSD_c20220715__20220715__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--SASBPhaseBMember__srt--RangeAxis__ifrs-full--BottomOfRangeMember_zSuu5oAaFHp" title="Cash bonus">5,000,000</span>.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the agreement can be terminated at any time, the RSU’s are recognized only upon the conditions above being met; as a result, no share based compensation has been recognized under this agreement for the year ended December 31, 2022. During the year ended December 31, 2023, <span id="xdx_90F_ecustom--StockIssuedDuringPeriodRestrictedStockUnitShares_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsFirstAnniversaryAgreementMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember_zhrc2FDqCca4" title="Shares issued for RSUs, shares">20,000</span> shares were issued pursuant to the RSUs granted on the first anniversary of the agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Related Party Transactions (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 15, 2022, the COO signed an employment agreement with the Company in which the COO shall receive:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220715__20220715__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsFirstAnniversaryAgreementMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefOperatingOfficerMember_zMERTBTqT4N8" title="Vested shares issued">25,000</span> fully vested RSUs upon the first anniversary of the agreement;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220715__20220715__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsSecondAnniversaryAgreementMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefOperatingOfficerMember_znqGgm26ocrf" title="Vested shares issued">30,000</span> fully vested RSUs upon the second anniversary of the agreement;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For each subsequent year, the number of RSUs is determined in context of the market price of the shares and in respect to the performance of the Company;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A bonus of <span id="xdx_902_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220715__20220715__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefOperatingOfficerMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z2gdb8srB39l" title="Vested shares issued">20,000</span> RSUs plus the sum of $<span id="xdx_90D_eifrs-full--WagesAndSalaries_uUSD_c20220715__20220715__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsSecondAnniversaryAgreementMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefOperatingOfficerMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zKZeoaNwpwN3" title="Cash bonus">15,000</span> cash paid upon the successful completion of the company’s phase A drilling program at the SASB gas field; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A bonus of <span id="xdx_908_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20220715__20220715__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefOperatingOfficerMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--SASBPhaseBMember_zZmb9St9Wqe9" title="Vested shares issued">25,000</span> RSUs plus the sum of $<span id="xdx_90B_eifrs-full--WagesAndSalaries_uUSD_c20220715__20220715__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsSecondAnniversaryAgreementMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefOperatingOfficerMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--SASBPhaseBMember_zbg6kTAVOgjg" title="Cash bonus">20,000</span> cash paid upon the successful completion of at least an additional seven wells as part of the Company’s phase B drilling program at the SASB gas field;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the agreement can be terminated at any time, the RSU’s are recognized only upon the conditions above being met; as a result, no share based compensation has been recognized under this agreement for the year ended December 31, 2022. As at December 31, 2023, <span id="xdx_907_ecustom--StockIssuedDuringPeriodRestrictedStockUnitShares_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsFirstAnniversaryAgreementMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefOperatingOfficerMember_zEycJVwyg6Ub" title="Shares issued for RSUs, shares">25,000</span> shares valued at $<span id="xdx_90C_ecustom--StockIssuedDuringPeriodRestrictedStockUnit_uUSD_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsFirstAnniversaryAgreementMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefOperatingOfficerMember_zQx7MEiSyw0j" title="Shares issued for RSUs">33,111</span> were owed pursuant to the RSUs granted on the first anniversary of the agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 18, 2022, the Company entered into a settlement agreement with the former CFO of the Company upon resignation, whereupon the Company will issue/pay:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_eifrs-full--NumberOfSharesIssued_iI_c20220818__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember_zWn2zt1q4cAc" title="Number of shares issued">65,000</span> common shares with a fair value of $<span id="xdx_905_ecustom--StockIssuedDuringPeriodValueObligation_c20220818__20220818__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember_zAKi4mOv8006" title="Value of stock issued for obligation">94,300</span> (not issued as at December 31, 2023);</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90C_eifrs-full--PaymentsForShareIssueCosts_c20220818__20220818__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember_zxc3duuA1ERg" title="Cash payments">210,000</span> in cash to be paid as follows:</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_908_eifrs-full--PaymentsForShareIssueCosts_c20220818__20220818__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z5rcxsdwxWE6" title="Cash payments">110,000</span> paid upon execution of the agreement (Paid);</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_902_eifrs-full--PaymentsForShareIssueCosts_c20230131__20230131__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__ifrs-full--MajorOrdinaryShareTransactionsMember_zFGgDrCFyDgi" title="Cash payments">50,000</span> to be paid on or before January 31, 2023 (Unpaid);</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_909_eifrs-full--PaymentsForShareIssueCosts_c20230331__20230331__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--ChiefFinancialOfficerMember__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__ifrs-full--MajorOrdinaryShareTransactionsMember_ztqvmNGAndij" title="Cash payments">50,000</span> to be paid on or before March 31, 2023 (Unpaid);</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eifrs-full--NumberOfSharesIssued_iI_uShares_c20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--DirectorMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zTiN8Yv6aD8d" title="Cash payments">40,000</span> RSUs with a fair value of $<span id="xdx_90D_ecustom--StockIssuedDuringPeriodValueObligation_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__srt--DirectorMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_z76Ko9hGhTh9" title="Value of stock issued for obligation">32,635</span> for services rendered as a director (shares issued in 2023);</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eifrs-full--NumberOfSharesIssued_iI_uShares_c20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--AuditCommitteeMemberMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zCnMRUgM2uDh" title="Cash payments">15,000</span> RSUs with a fair value of $<span id="xdx_90D_ecustom--StockIssuedDuringPeriodValueObligation_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--AuditCommitteeMemberMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zhNZHlwNYFOi" title="Value of stock issued for obligation">21,762</span> for services rendered as an audit committee member (shares issued in 2023);</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the compensation above, all previous amounts owed/owing will be settled, including $<span id="xdx_909_ecustom--SettlementOfAmountInNotesReceivables_c20220101__20221231_zZiKS63vA92k" title="Settlement of amount in notes receivables">49,800</span> in notes receivable. The Company recognized a loss on the settlement of $<span id="xdx_905_ecustom--LossOnSettlement_c20220101__20221231_zjmJq24fT7O6" title="Loss on Settlement">285,120</span> during fiscal 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 115526 210070 13831 924083 711766 438000 145500 92000 72000 52313 1294051 926119 808680 80000 115304 160000 118261 2957 400000 283333 260681 70833 260681 70833 1029333 895333 134000 518820 648078 586868 799212 473331 450325 517985 0.05 402115 420281 0.06 December 31, 2024 40000 50000 80000 19077 255206 65160 190047 12000 21283 14189 7094 20000 5000000 50000 25000 5000000 50000 50000 100000 295818 197212 98606 20000 30000 20000 15000 25000 20000 25000 5000000 20000 25000 30000 20000 15000 25000 20000 25000 33111 65000 94300 210000 110000 50000 50000 40000 32635 15000 21762 49800 285120 <p id="xdx_80F_eifrs-full--DisclosureOfGeneralAndAdministrativeExpenseExplanatory_zSaqWC8ByTD7" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>20. <span id="xdx_827_z0HlHvzNJgNg">General and Administrative </span></b></span></p> <p id="xdx_896_ecustom--DisclosureOfDetailedInformationAboutGeneralAndAdministrativeExpenseExplanatory_z8xNdP58vgQ8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zvgas7XUP73b" style="display: none">Schedule of General and Administrative Expense</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zBjnFM023NF7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20220101__20221231_zySAeUAzBLOi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20210101__20211231_z2OT0f6Ha1b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eifrs-full--WagesAndSalaries_maGAAEzQpm_zMwIFSzeVjDh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Salaries and compensation</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">5,633,959</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,386,716</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,672,750</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--ProfessionalFeesExpense_maGAAEzQpm_z6s9eb0XzD19" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Professional fees</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">820,047</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">552,975</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">377,308</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--InvestorRelationsExpense_maGAAEzQpm_zUOFNK5KWLqe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investor relations</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">236,441</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">592,155</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">914,770</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--OfficeExpense_maGAAEzQpm_zwzh0Q38RiE4" style="vertical-align: bottom; background-color: White"> <td>Office</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">230,472</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">119,999</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,211</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--AdvertisingExpense_maGAAEzQpm_z7XmFEALJQb8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Advertising</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">123,293</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">519,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,859</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--FilingAndTransferFeesExpense_maGAAEzQpm_z04KkxmgoeV5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Filing and transfer fees</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">111,987</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">96,701</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127,149</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--TravelExpense_maGAAEzQpm_zqvrqJ0YsEC8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Travel</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">114,335</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,285</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4284">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--UtilitiesExpense_maGAAEzQpm_zrviNCKeMDX5" style="vertical-align: bottom; background-color: White"> <td>Penalties</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">19,763</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4288">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--BankAndSimilarCharges_maGAAEzQpm_zrUQhzKKUxgf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Bank charges and other</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">4,675</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,140</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,887</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--GeneralAndAdministrativeExpense_iT_pp0p0_mtGAAEzQpm_zB566qgU8lnf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">General and Administrative</span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">7,294,972</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,397,500</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,162,934</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zeqYXThEytH8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_ecustom--DisclosureOfDetailedInformationAboutGeneralAndAdministrativeExpenseExplanatory_z8xNdP58vgQ8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zvgas7XUP73b" style="display: none">Schedule of General and Administrative Expense</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zBjnFM023NF7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20220101__20221231_zySAeUAzBLOi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20210101__20211231_z2OT0f6Ha1b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eifrs-full--WagesAndSalaries_maGAAEzQpm_zMwIFSzeVjDh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Salaries and compensation</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">5,633,959</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,386,716</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,672,750</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--ProfessionalFeesExpense_maGAAEzQpm_z6s9eb0XzD19" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Professional fees</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">820,047</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">552,975</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">377,308</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--InvestorRelationsExpense_maGAAEzQpm_zUOFNK5KWLqe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investor relations</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">236,441</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">592,155</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">914,770</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--OfficeExpense_maGAAEzQpm_zwzh0Q38RiE4" style="vertical-align: bottom; background-color: White"> <td>Office</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">230,472</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">119,999</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,211</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--AdvertisingExpense_maGAAEzQpm_z7XmFEALJQb8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Advertising</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">123,293</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">519,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,859</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--FilingAndTransferFeesExpense_maGAAEzQpm_z04KkxmgoeV5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Filing and transfer fees</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">111,987</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">96,701</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127,149</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--TravelExpense_maGAAEzQpm_zqvrqJ0YsEC8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Travel</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">114,335</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,285</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4284">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--UtilitiesExpense_maGAAEzQpm_zrviNCKeMDX5" style="vertical-align: bottom; background-color: White"> <td>Penalties</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">19,763</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4288">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--BankAndSimilarCharges_maGAAEzQpm_zrUQhzKKUxgf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Bank charges and other</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">4,675</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,140</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,887</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--GeneralAndAdministrativeExpense_iT_pp0p0_mtGAAEzQpm_zB566qgU8lnf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">General and Administrative</span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">7,294,972</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,397,500</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,162,934</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 5633959 4386716 1672750 820047 552975 377308 236441 592155 914770 230472 119999 35211 123293 519321 28859 111987 96701 127149 114335 87285 19763 30208 4675 12140 6887 7294972 6397500 3162934 <p id="xdx_80E_eifrs-full--DisclosureOfEntitysReportableSegmentsExplanatory_z8Co1Jtd9jJi" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>21.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82B_zijrarKvVPE2">Segmented Information</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eifrs-full--DisclosureOfOperatingSegmentsExplanatory_zGBssbRQs5B" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2023,2022, and 2021, the Company’s operations were in the resource industry in Turkey with head offices in Canada and a satellite office in Sofia, Bulgaria.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_z8QPG89iqqW" style="display: none">Schedule of Geographical Segment Information</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_zE68pIJ06RNj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_zUKltTm8DA37" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_zl5v0c7r79he" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20230101__20231231_zXZ2pZLz2jac" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Restated – Note 27)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Year ended December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Revenue_zmBnlo81taDc" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4302">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">16,797,366</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4304">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">16,797,366</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--FinanceCosts_pp0p0_msOOIEzLQG_zpcnEyyjWsGi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,202,324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4309">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,249,055</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DepletionExpense_pp0p0_msOOIEzLQG_zj8SiLR6epUa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4312">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,119,174</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4314">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,119,174</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--DepreciationExpense_pp0p0_maEBNzBb0_z8AENY0Ia9z9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,497</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">167,267</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4319">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,764</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccretionOfAssetRetirementObligation_pp0p0_maEBNzBb0_z2AP0Rub6qW9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4322">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">219,536</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4324">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">219,536</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_pp0p0_maEBNzBb0_zeuHmmVBidD" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,397,261</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4328">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4329">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,397,261</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--LossOnImpairmentOfExplorationAndEvaluationAssets_zO1hYTf2iT87" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Loss on impairment of exploration and evaluation assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--GainLossOnDebtSettlements_z7R0eyRwX8Re" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on debt extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4338">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4339">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,500</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--LossOnImpairmentOfAssetsHeldForSale_zOrYbE9mAVgb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Loss on impairment of assets held for sale</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4342">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,556,787</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4344">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,556,787</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--GainsLossesOnNetMonetaryPosition_di_zkCqZaMVZHfc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on net monetary position</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4347">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,984,099</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4349">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,984,099</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--ProfitLoss_pp0p0_zgvmn2Ic5Kn1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Net income (loss) (Restated – Note 27)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,900,218</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,861,094</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,718</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(43,842</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eifrs-full--NoncurrentAssets_iI_c20231231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_zfRzBbeJbz5g" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">35,021</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eifrs-full--NoncurrentAssets_iI_c20231231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_z47957LH31ta" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">53,710,753</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eifrs-full--NoncurrentAssets_iI_c20231231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_zYiGRpG6rVZ5" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets"><span style="-sec-ix-hidden: xdx2ixbrl4361">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eifrs-full--NoncurrentAssets_iI_c20231231_z7oH4KumHcz9" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">53,745,774</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_z2tX9hsDzj5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_zvOazzH3GuX3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_zfOpEaGt73G4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20220101__20221231_z32eYoZp3M41" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Year ended December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Revenue_zw1Uc4WiLcQc" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4365">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">9,375,029</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4367">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">9,375,029</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--FinanceCosts_pp0p0_msOOIEzLQG_zjRIpJRVlAVi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79,693</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4371">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4372">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79,693</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DepletionExpense_pp0p0_msOOIEzLQG_zxasRQGA2z19" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4375">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,451,032</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4377">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,451,032</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--DepreciationExpense_pp0p0_maEBNzBb0_zOnippRLnKf8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,826</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,209</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4382">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">145,035</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccretionOfAssetRetirementObligation_pp0p0_maEBNzBb0_zRKUKoNNnXW2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4385">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">264,075</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4387">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">264,075</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_pp0p0_maEBNzBb0_zDzGkXxbHCrc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,118,917</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4391">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4392">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,118,917</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--LossOnImpairmentOfExplorationAndEvaluationAssets_z7jL2bZq908c" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on impairment of exploration and evaluation assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4395">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4396">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,101,343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,101,343</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--GainLossOnDebtSettlements_zx1cZyzN6jKg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Gain on debt extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,051</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4401">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4402">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,051</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--GainsLossesOnNetMonetaryPosition_zJJNkboct7jh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on net monetary position</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4405">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,826,495</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4407">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,826,495</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--ProfitLoss_pp0p0_z28yYteyade8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Net income (loss)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,684,988</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,577,954</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,014,720</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,121,754</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eifrs-full--NoncurrentAssets_iI_c20221231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_zoRb1mqsazQ7" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">42,781</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eifrs-full--NoncurrentAssets_iI_c20221231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_zCVUwH6TWp43" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">30,748,740</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_983_eifrs-full--NoncurrentAssets_iI_c20221231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_zFjcoI16Bzi4" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets"><span style="-sec-ix-hidden: xdx2ixbrl4419">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eifrs-full--NoncurrentAssets_iI_c20221231_zS86AuVm9fDg" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">30,791,521</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20210101__20211231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_zOn04xa3loP2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20210101__20211231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_zlWGRICd7WB2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20210101__20211231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_zd2eBtmhFCij" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20210101__20211231_ze2yLySv5aO6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Year ended December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Revenue_zwbFDdsfFVi4" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4423">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,700,727</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4425">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,700,727</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--FinanceCosts_pp0p0_msOOIEzLQG_zhrIk768P5Fk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Financing cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176,386</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4429">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4430">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176,386</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DepletionExpense_pp0p0_msOOIEzLQG_ziA6KDTI6zAi" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4433">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">415,686</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4435">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">415,686</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--DepreciationExpense_pp0p0_maEBNzBb0_zgbc3Cg6jXed" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4438">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4440">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,768</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccretionOfAssetRetirementObligation_pp0p0_maEBNzBb0_z22DgDYqHYZa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4443">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,983</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4445">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,983</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_pp0p0_maEBNzBb0_zoaXeVwvS1e8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,366</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4449">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4450">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,366</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--GainLossOnDebtSettlements_zD8CW4rC3kyh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on debt extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">159,383</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4454">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4455">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">159,383</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--ProfitLoss_pp0p0_zJ7jUSV0Jj88" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,501,973</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(379,473</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,680</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,893,126</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_988_eifrs-full--NoncurrentAssets_iI_c20211231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_zXYcKCpk6ZI" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets"><span style="-sec-ix-hidden: xdx2ixbrl4463">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eifrs-full--NoncurrentAssets_iI_c20211231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_zXXYNXjrz5Wk" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">1,573,185</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eifrs-full--NoncurrentAssets_iI_c20211231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_ztDC6mWi9ut6" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">3,116,146</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eifrs-full--NoncurrentAssets_iI_c20211231_zQdPuBV29Q66" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">4,689,331</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zs0qHSLIxih6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>21.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Segmented Information (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_897_ecustom--DisclosureOfNetRevenueByProductSegmentExplanatory_zw05X84278v2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s breakdown of net revenue by product segment is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zpa1uafbTWN4" style="display: none">Schedule of Net Revenue By Product Segment</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20231231_zU1KJK7DeYCd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20220101__20221231_zGTwuHVg6uYh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20210101__20211231_zgnPAsDF0kV4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eifrs-full--RevenueFromSaleOfOilAndGasProducts_hifrs-full--ProductsAndServicesAxis__custom--OilMember_maPLBTz8ET_z0FXZuBRtPf2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Oil</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">3,055,800</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,087,664</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,219,792</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--RevenueFromSaleOfOilAndGasProducts_hifrs-full--ProductsAndServicesAxis__custom--GasMember_maPLBTz8ET_z2eHGbdiXj27" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Gas</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">13,741,566</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,287,365</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">480,935</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--RevenueFromSaleOfOilAndGasProducts_maPLBTz8ET_zSiamDI0WSCi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Oil and gas revenue, net</span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">16,797,366</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,375,029</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,700,727</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zgqsjqAGYjbe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company incurs royalties of <span id="xdx_908_ecustom--RoyaltiesPercent_pid_dp_uPure_c20230101__20231231_z6jrKpR6cVJ9" title="Royalties percent">12.5</span>%. During the year ended December 31, 2023, the Company paid royalties totaling $<span id="xdx_90C_eifrs-full--RoyaltyExpense_c20230101__20231231_z0rw6cUgIBU5" title="Royalties paid">2,242,613</span> (2022 - $<span id="xdx_903_eifrs-full--RoyaltyExpense_c20220101__20221231_zzgM5FWFMQGd" title="Royalties paid">1,163,498</span> and 2021 - $<span id="xdx_905_eifrs-full--RoyaltyExpense_c20210101__20211231_zBveDuWSO9ch" title="Royalties paid">434,644</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eifrs-full--DisclosureOfOperatingSegmentsExplanatory_zGBssbRQs5B" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2023,2022, and 2021, the Company’s operations were in the resource industry in Turkey with head offices in Canada and a satellite office in Sofia, Bulgaria.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_z8QPG89iqqW" style="display: none">Schedule of Geographical Segment Information</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_zE68pIJ06RNj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_zUKltTm8DA37" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_zl5v0c7r79he" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20230101__20231231_zXZ2pZLz2jac" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Restated – Note 27)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Year ended December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Revenue_zmBnlo81taDc" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4302">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">16,797,366</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4304">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">16,797,366</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--FinanceCosts_pp0p0_msOOIEzLQG_zpcnEyyjWsGi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,202,324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4309">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,249,055</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DepletionExpense_pp0p0_msOOIEzLQG_zj8SiLR6epUa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4312">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,119,174</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4314">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,119,174</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--DepreciationExpense_pp0p0_maEBNzBb0_z8AENY0Ia9z9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,497</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">167,267</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4319">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,764</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccretionOfAssetRetirementObligation_pp0p0_maEBNzBb0_z2AP0Rub6qW9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4322">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">219,536</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4324">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">219,536</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_pp0p0_maEBNzBb0_zeuHmmVBidD" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,397,261</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4328">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4329">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,397,261</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--LossOnImpairmentOfExplorationAndEvaluationAssets_zO1hYTf2iT87" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Loss on impairment of exploration and evaluation assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--GainLossOnDebtSettlements_z7R0eyRwX8Re" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on debt extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4338">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4339">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,500</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--LossOnImpairmentOfAssetsHeldForSale_zOrYbE9mAVgb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Loss on impairment of assets held for sale</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4342">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,556,787</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4344">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,556,787</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--GainsLossesOnNetMonetaryPosition_di_zkCqZaMVZHfc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on net monetary position</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4347">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,984,099</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4349">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,984,099</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--ProfitLoss_pp0p0_zgvmn2Ic5Kn1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Net income (loss) (Restated – Note 27)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,900,218</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,861,094</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,718</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(43,842</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eifrs-full--NoncurrentAssets_iI_c20231231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_zfRzBbeJbz5g" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">35,021</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eifrs-full--NoncurrentAssets_iI_c20231231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_z47957LH31ta" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">53,710,753</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eifrs-full--NoncurrentAssets_iI_c20231231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_zYiGRpG6rVZ5" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets"><span style="-sec-ix-hidden: xdx2ixbrl4361">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eifrs-full--NoncurrentAssets_iI_c20231231_z7oH4KumHcz9" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">53,745,774</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_z2tX9hsDzj5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_zvOazzH3GuX3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_zfOpEaGt73G4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20220101__20221231_z32eYoZp3M41" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Year ended December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Revenue_zw1Uc4WiLcQc" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4365">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">9,375,029</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4367">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">9,375,029</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--FinanceCosts_pp0p0_msOOIEzLQG_zjRIpJRVlAVi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79,693</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4371">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4372">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79,693</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DepletionExpense_pp0p0_msOOIEzLQG_zxasRQGA2z19" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4375">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,451,032</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4377">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,451,032</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--DepreciationExpense_pp0p0_maEBNzBb0_zOnippRLnKf8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,826</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,209</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4382">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">145,035</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccretionOfAssetRetirementObligation_pp0p0_maEBNzBb0_zRKUKoNNnXW2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4385">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">264,075</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4387">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">264,075</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_pp0p0_maEBNzBb0_zDzGkXxbHCrc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,118,917</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4391">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4392">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,118,917</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--LossOnImpairmentOfExplorationAndEvaluationAssets_z7jL2bZq908c" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on impairment of exploration and evaluation assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4395">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4396">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,101,343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,101,343</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--GainLossOnDebtSettlements_zx1cZyzN6jKg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Gain on debt extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,051</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4401">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4402">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,051</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--GainsLossesOnNetMonetaryPosition_zJJNkboct7jh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on net monetary position</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4405">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,826,495</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4407">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,826,495</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--ProfitLoss_pp0p0_z28yYteyade8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Net income (loss)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,684,988</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,577,954</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,014,720</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,121,754</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eifrs-full--NoncurrentAssets_iI_c20221231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_zoRb1mqsazQ7" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">42,781</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eifrs-full--NoncurrentAssets_iI_c20221231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_zCVUwH6TWp43" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">30,748,740</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_983_eifrs-full--NoncurrentAssets_iI_c20221231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_zFjcoI16Bzi4" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets"><span style="-sec-ix-hidden: xdx2ixbrl4419">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eifrs-full--NoncurrentAssets_iI_c20221231_zS86AuVm9fDg" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">30,791,521</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20210101__20211231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_zOn04xa3loP2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20210101__20211231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_zlWGRICd7WB2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20210101__20211231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_zd2eBtmhFCij" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20210101__20211231_ze2yLySv5aO6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Year ended December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--Revenue_zwbFDdsfFVi4" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4423">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,700,727</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4425">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,700,727</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--FinanceCosts_pp0p0_msOOIEzLQG_zhrIk768P5Fk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Financing cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176,386</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4429">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4430">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176,386</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DepletionExpense_pp0p0_msOOIEzLQG_ziA6KDTI6zAi" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4433">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">415,686</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4435">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">415,686</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--DepreciationExpense_pp0p0_maEBNzBb0_zgbc3Cg6jXed" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4438">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4440">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,768</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccretionOfAssetRetirementObligation_pp0p0_maEBNzBb0_z22DgDYqHYZa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4443">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,983</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4445">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,983</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_pp0p0_maEBNzBb0_zoaXeVwvS1e8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,366</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4449">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4450">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,366</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--GainLossOnDebtSettlements_zD8CW4rC3kyh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on debt extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">159,383</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4454">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4455">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">159,383</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--ProfitLoss_pp0p0_zJ7jUSV0Jj88" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,501,973</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(379,473</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,680</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,893,126</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_988_eifrs-full--NoncurrentAssets_iI_c20211231__ifrs-full--GeographicalAreasAxis__custom--CanadaCountryMember_zXYcKCpk6ZI" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets"><span style="-sec-ix-hidden: xdx2ixbrl4463">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eifrs-full--NoncurrentAssets_iI_c20211231__ifrs-full--GeographicalAreasAxis__custom--TurkeyCountryMember_zXXYNXjrz5Wk" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">1,573,185</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eifrs-full--NoncurrentAssets_iI_c20211231__ifrs-full--GeographicalAreasAxis__custom--BulgariaCountryMember_ztDC6mWi9ut6" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">3,116,146</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eifrs-full--NoncurrentAssets_iI_c20211231_zQdPuBV29Q66" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current assets">4,689,331</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 16797366 16797366 2202324 46731 2249055 5119174 5119174 8497 167267 175764 219536 219536 2397261 2397261 8500 8500 1556787 1556787 18984099 18984099 -7900218 7861094 -4718 -43842 35021 53710753 53745774 9375029 9375029 79693 79693 1451032 1451032 4826 140209 145035 264075 264075 2118917 2118917 3101343 3101343 97051 97051 1826495 1826495 -6684988 3577954 -3014720 -6121754 42781 30748740 30791521 3700727 3700727 176386 176386 415686 415686 31768 31768 91983 91983 336366 336366 159383 159383 -4501973 -379473 -11680 -4893126 1573185 3116146 4689331 <p id="xdx_897_ecustom--DisclosureOfNetRevenueByProductSegmentExplanatory_zw05X84278v2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s breakdown of net revenue by product segment is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zpa1uafbTWN4" style="display: none">Schedule of Net Revenue By Product Segment</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20231231_zU1KJK7DeYCd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20220101__20221231_zGTwuHVg6uYh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20210101__20211231_zgnPAsDF0kV4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eifrs-full--RevenueFromSaleOfOilAndGasProducts_hifrs-full--ProductsAndServicesAxis__custom--OilMember_maPLBTz8ET_z0FXZuBRtPf2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Oil</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 14%; font-weight: bold; text-align: right">3,055,800</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,087,664</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,219,792</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--RevenueFromSaleOfOilAndGasProducts_hifrs-full--ProductsAndServicesAxis__custom--GasMember_maPLBTz8ET_z2eHGbdiXj27" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Gas</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">13,741,566</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,287,365</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">480,935</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--RevenueFromSaleOfOilAndGasProducts_maPLBTz8ET_zSiamDI0WSCi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Oil and gas revenue, net</span></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">16,797,366</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,375,029</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,700,727</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 3055800 4087664 3219792 13741566 5287365 480935 16797366 9375029 3700727 0.125 2242613 1163498 434644 <p id="xdx_809_eifrs-full--DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory_zrTEspHyJefg" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>22.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82F_z0YNzRHC8P8c">Capital Management</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern to support its business plan, as well as to ensure that the Company is able to meet its financial obligations as they become due.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The basis for the Company’s capital structure is dependent on the Company’s expected business growth and changes in business environment. To maintain or adjust the capital structure, the Company may issue new shares through private placement, incur debt or return capital to members.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is dependent upon external financings to fund activities. In order to carry future projects and pay administrative costs, the Company will utilize its existing working capital and raise additional funds as needed. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. The Company is not subject to externally imposed capital requirements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_800_eifrs-full--DisclosureOfFinancialRiskManagementExplanatory_zWYpoSduo3Je" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>23.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_826_zoVcjxWIMXea">Financial Instruments and Risk Management</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is exposed, through its operations, to the following financial risks:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market risk</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit risk</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liquidity risk</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is exposed to risks that arise from its use of financial instruments. This note describes the Company’s objectives, policies, and processes for managing those risks and the methods used to measure them. Further quantitative information in respect of these risks is presented throughout these consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There have been no substantive changes in the Company’s exposure to financial instrument risks, its objectives, polices and processes for managing those risks or the methods used to measure them from previous reported periods unless otherwise stated in the note. The overall objective of management is to set policies that seek to reduce risk as far as possible without unduly affecting the Company’s competitiveness and flexibility. Further details regarding these policies are set out below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market risk</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market risk is the risk of loss that may arise from changes in market factors such as foreign currency exchange, interest rates and equity price risk.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>23.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial Instruments and Risk Management (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Foreign currency risk:</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign currency risk is the risk that the fair values of future cash flows of a financial instrument will fluctuate because they are denominated in currencies that differ from the respective functional currency. The Company and its subsidiaries are exposed to currency risk as it has transactions denominated in currencies that are different from their functional currencies. The Company does not hedge its exposure to fluctuations in foreign exchange rates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2023, the Company’s significant foreign exchange currency exposure on its financial instruments, expressed in USD was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the CAD strengthened or weakened against the USD by <span id="xdx_904_eifrs-full--AverageForeignExchangeRate_pid_dp_uPure_c20230101__20231231_zJwGOrfnSVwg" title="Average foreign exchange rate">10</span>% the exchange rate fluctuation would impact net loss by $<span id="xdx_901_eifrs-full--NetForeignExchangeLoss_pp0p0_c20230101__20231231_zEY6J6BbGTOe" title="Net foreign exchange loss">954,252</span> at December 31, 2023 (December 31, 2022 - $<span id="xdx_903_eifrs-full--NetForeignExchangeLoss_pp0p0_c20220101__20221231_zXCGQlynvnB2" title="Net foreign exchange loss">30,435 </span>and December 31, 2021 – $<span id="xdx_900_eifrs-full--NetForeignExchangeLoss_pp0p0_c20210101__20211231_ztOPSxegrkM2" title="Net foreign exchange loss">201,206</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest rate risk:</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest rate risk is the risk that future cash flows will fluctuate because of changes in market interest rates. The interest earned on cash is insignificant and the Company does not rely on interest income to fund its operations. The Company does not have significant debt facilities with variable interest rates and is therefore not exposed to interest rate risk.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other price risk:</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. The Company does not hold equity investments in other entities and therefore is not exposed to a significant risk.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit risk</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is subject to credit risk on its cash and cash equivalents and amounts receivable which consists primarily of trade receivables and notes and amounts receivable for equity issued. The Company limits its exposure to credit loss on cash and cash equivalents by placing its cash with a high-quality financial institution. Exposure to credit loss notes and amounts receivable for equity issued is limited by entering into these types of transactions with related parties and entities that are well known to the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company only has two customers. The Company mitigates credit risk by evaluating the creditworthiness of customers prior to conducting business with them and monitoring its exposure for credit losses with existing customers. One of the customers is the largest oil refinery in Turkey. The other customer provides letters of credit to be used by the Company in the event of default. As at December 31, 2023, all of the Company’s trade receivables are current (&lt; 30 days outstanding).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s maximum credit exposure is $<span id="xdx_906_ecustom--MaximumExposureToCreditRiskOfLoansOrReceivable_iI_pp0p0_c20231231_z2W00NY1Q3Kj" title="Maximum credit exposure">2,848,457</span> (December 31, 2022 - $<span id="xdx_908_ecustom--MaximumExposureToCreditRiskOfLoansOrReceivable_iI_pp0p0_c20221231_z8FbkxlJoo48" title="Maximum credit exposure">5,263,886</span> and December 31, 2021 - $<span id="xdx_907_ecustom--MaximumExposureToCreditRiskOfLoansOrReceivable_iI_pp0p0_c20211231_zntwe2CcOVWh" title="Maximum credit exposure">1,736,795</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>23.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial Instruments and Risk Management (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liquidity risk</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liquidity risk arises from the Company’s general and capital financing needs. The Company continuously monitors and reviews both actual and forecasted cash flows, and also matches the maturity profile of financial assets and liabilities, when feasible. The Company anticipates increases in revenue in future periods resulting from the completion of an additional well subsequent to the period end. Historically, the Company’s sources of funding has been through equity and debt financings. The Company’s access to financing is uncertain. There can be no assurance of continued access to significant debt or equity funding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eifrs-full--DisclosureOfInformationAboutMaturityProfileOfDefinedBenefitObligationExplanatory_zoemd6IAk3v7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below summarizes the maturity profile of the Company’s contractual cashflows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zMVSuEg1Qktk" style="display: none">Summary of Maturity Profile of the Contractual Cash Flow</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_zLKC9bwAT1F1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zr1zfyoB0pqh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 – 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_znsPsNJe6DMe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_zwxmNl3KT5G2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,065,019</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl4514">-</span></span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4515">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,065,019</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--Borrowings_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,464,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4519">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4520">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,464,450</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--LeaseLiabilities_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,919</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">116,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60,921</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236,491</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RestrictedStockUnitsObligation_iI_pp0p0_z9xlT10PZ1tc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">RSU obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4529">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4530">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,398</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--DebtSecurities_iI_pp0p0_z2M3sFVsXvwe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,361,525</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,988,362</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4535">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,349,887</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--DerivativeFinancialLiabilities_iI_pp0p0_z4sEccP3hcL2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Liabilities_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">18,968,311</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,105,013</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">60,921</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">31,134,245</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2022</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20221231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_z4EJTZvw1hi5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20221231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zhXsAvv1sOT5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 - 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20221231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_zlrWwUBtr3Y3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20221231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_zXwrwF2Tkgj5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0_zElmovq1Cgx2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">10,600,080</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4549">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4550">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">10,600,080</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--Borrowings_iI_pp0p0_znOsB3nWxM85" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">145,866</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,689</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4555">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">166,555</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--LeaseLiabilities_iI_pp0p0_zWT1lBMKDHKb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,807</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,807</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4560">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,614</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--RestrictedStockUnitsObligation_iI_pp0p0_zcLCDTJQPjyc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">RSU obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">295,747</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4564">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4565">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">295,747</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--DerivativeFinancialLiabilities_iI_pp0p0_zoxsV7MiRhm6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Derivative liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4568">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,827</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4570">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,827</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Liabilities_iI_pp0p0_z8JnfJe4d2w4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">11,046,500</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">30,323</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4575">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">11,076,823</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2021</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20211231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_z3pkxUT50cvh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20211231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zAT70byzP2r8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 - 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20211231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_zJTMe9jmRwQj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20211231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_zHnCZNE6pebh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0_zxkmONH8fws1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">852,481</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4579">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4580">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">852,481</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--Borrowings_iI_pp0p0_zPHjDqUhAcji" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630,534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,513</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4585">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">649,047</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--LeaseLiabilities_iI_pp0p0_zDpXo86qNyk2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,732</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,464</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4590">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,196</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--DerivativeFinancialLiabilities_iI_pp0p0_zAkgDLfx5E4b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Derivative liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4593">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">472,899</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4595">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">472,899</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--Liabilities_iI_pp0p0_zIdsPsOtMWb1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,489,747</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">504,876</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4600">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,994,623</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_znZKw45Fj1ik" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.10 954252 30435 201206 2848457 5263886 1736795 <p id="xdx_890_eifrs-full--DisclosureOfInformationAboutMaturityProfileOfDefinedBenefitObligationExplanatory_zoemd6IAk3v7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below summarizes the maturity profile of the Company’s contractual cashflows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zMVSuEg1Qktk" style="display: none">Summary of Maturity Profile of the Contractual Cash Flow</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_zLKC9bwAT1F1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zr1zfyoB0pqh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 – 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_znsPsNJe6DMe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_zwxmNl3KT5G2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,065,019</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl4514">-</span></span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4515">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,065,019</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--Borrowings_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,464,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4519">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4520">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,464,450</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--LeaseLiabilities_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,919</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">116,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60,921</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236,491</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RestrictedStockUnitsObligation_iI_pp0p0_z9xlT10PZ1tc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">RSU obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4529">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4530">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,398</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--DebtSecurities_iI_pp0p0_z2M3sFVsXvwe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,361,525</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,988,362</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4535">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,349,887</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--DerivativeFinancialLiabilities_iI_pp0p0_z4sEccP3hcL2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Liabilities_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">18,968,311</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,105,013</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">60,921</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">31,134,245</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2022</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20221231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_z4EJTZvw1hi5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20221231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zhXsAvv1sOT5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 - 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20221231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_zlrWwUBtr3Y3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20221231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_zXwrwF2Tkgj5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0_zElmovq1Cgx2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">10,600,080</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4549">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4550">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">10,600,080</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--Borrowings_iI_pp0p0_znOsB3nWxM85" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">145,866</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,689</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4555">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">166,555</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--LeaseLiabilities_iI_pp0p0_zWT1lBMKDHKb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,807</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,807</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4560">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,614</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--RestrictedStockUnitsObligation_iI_pp0p0_zcLCDTJQPjyc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">RSU obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">295,747</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4564">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4565">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">295,747</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--DerivativeFinancialLiabilities_iI_pp0p0_zoxsV7MiRhm6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Derivative liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4568">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,827</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4570">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,827</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Liabilities_iI_pp0p0_z8JnfJe4d2w4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">11,046,500</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">30,323</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4575">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">11,076,823</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2021</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20211231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_z3pkxUT50cvh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20211231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zAT70byzP2r8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 - 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20211231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_zJTMe9jmRwQj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20211231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_zHnCZNE6pebh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0_zxkmONH8fws1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">852,481</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4579">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4580">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">852,481</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--Borrowings_iI_pp0p0_zPHjDqUhAcji" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630,534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,513</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4585">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">649,047</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--LeaseLiabilities_iI_pp0p0_zDpXo86qNyk2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,732</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,464</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4590">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,196</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--DerivativeFinancialLiabilities_iI_pp0p0_zAkgDLfx5E4b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Derivative liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4593">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">472,899</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4595">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">472,899</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--Liabilities_iI_pp0p0_zIdsPsOtMWb1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,489,747</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">504,876</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4600">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,994,623</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 14065019 14065019 3464450 3464450 58919 116651 60921 236491 18398 18398 1361525 11988362 13349887 18968311 12105013 60921 31134245 10600080 10600080 145866 20689 166555 4807 4807 9614 295747 295747 4827 4827 11046500 30323 11076823 852481 852481 630534 18513 649047 6732 13464 20196 472899 472899 1489747 504876 1994623 <p id="xdx_80C_eifrs-full--DisclosureOfIncomeTaxExplanatory_zaSLya1MGhM3" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>24.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82B_zEYzVRE7S3lj">Income Tax</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_ecustom--DisclosureOfDetailedInformationAboutReconciliationOfCurrentIncomeTaxesExplanatory_zw0tEItKGzrf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation of current income taxes at statutory rates with the reported taxes is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zT2gEOu3mVZ1" style="display: none">Schedule of Reconciliation of Current Income Taxes</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="vertical-align: bottom; text-align: left"><p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">For the years ended December 31,</p></td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zaSoYVEYeMx3" style="border-bottom: Black 1pt solid; text-align: center">2023<br/> (Restated – <br/>Note 27)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20220101__20221231_zgat3HfDw177" style="border-bottom: Black 1pt solid; text-align: center">2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20210101__20211231_z9Nn800iLQM6" style="border-bottom: Black 1pt solid; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_eifrs-full--AccountingProfit_zJW9t8aDsG57" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify; padding-bottom: 1pt">Net income (loss) before income taxes</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,816,484</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">(6,121,754</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">(4,893,126</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eifrs-full--ApplicableTaxRate_pid_dp_zF8FI34qQLLa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Effective tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_ecustom--TaxEffectOfExpectedIncomeTaxRecovery_iN_di_msITECOz9gd_zokZkrIhX08a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected income tax recovery</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">490,451</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,652,874</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,321,144</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eifrs-full--TaxEffectFromChangeInTaxRate_maITECOz9gd_zQe8JXcDzOl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Change in statutory, foreign tax, foreign exchange rates, and other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(199,665</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">238,194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">378,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--TaxEffectFromPermanentDifferences_maITECOz9gd_zRFxkC5Vojo" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Permanent differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,335,113</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">649,306</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">609,738</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--TaxEffectOfAdjustmentToPriorYearsProvisionVersusStatutoryTaxReturnsAndExpiryOfNoncapitalLoses_maITECOz9gd_zjy2Nk45hzQc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249,576</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4628">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,336,200</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--TaxEffectOfChangeInUnrecognizedDeductibleTemporaryDifferences_maITECOz9gd_zW7X1tvoWik9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Change in unrecognized deductible temporary differences</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,149</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">765,374</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,669,456</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--IncomeTaxExpenseContinuingOperations_iT_mtITECOz9gd_zlczBMrrtiN3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,860,326</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4636">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4637">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_zqANE9g7qysf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eifrs-full--DisclosureOfDeferredTaxesExplanatory_zDt8IzgKUEn4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The tax effected items that give rise to significant portions of the deferred tax assets and deferred tax liabilities as at year-end are presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zM4e3IK1yRXi" style="display: none">Schedule of Deferred Tax Assets and Liabilities</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">As at December 31,</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_z6HDUB9STvqg" style="border-bottom: Black 1pt solid; text-align: right">2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20221231_zis4TNQ53ku5" style="border-bottom: Black 1pt solid; text-align: right">2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20211231_zabQWwgtnBK3" style="border-bottom: Black 1pt solid; text-align: right">2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxLiabilitiesExplorationAndEvaluationAssets_iNI_di_msNDTAz6z3_zQm5dnlV8x6" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify">Exploration and evaluation assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(9,990,074</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(1,426,133</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4643">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DeferredTaxLiabilitiesPropertyAndEquipment_iNI_di_msNDTAz6z3_zuDzlD61mHVe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,011</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4646">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4647">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DeferredTaxLiabilitiesConvertibleDebt_iNI_di_msNDTAz6z3_zrt38OPnrM4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(327,305</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4650">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4651">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DeferredTaxAssetsHeldForSale_iI_maNDTAz6z3_zFgctFZs380d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Assets held for sale</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">311,357</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4654">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4655">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DeferredTaxAssetRetirementObligation_iI_maNDTAz6z3_zBjYbTAXns05" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,249,406</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetNoncapitalLosses_iI_maNDTAz6z3_z9aZh0oxTDSg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-capital losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,685,079</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,426,133</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4663">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--NetDeferredTaxAssets_iTI_mtNDTAz6z3_zATWpzKPQsIf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Net deferred tax assets (liabilities)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,131,548</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4666">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4667">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zuBf5Y5uyole" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes tax benefits on losses or other deductible amounts where the probable criteria for the recognition of deferred tax assets has been met. The Company’s unrecognized deductible temporary differences and unused tax losses for which no deferred tax asset is recognized consist of the following amounts:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>24.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Income Tax (continued)</b></span></td></tr> </table> <p id="xdx_891_eifrs-full--DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory_zJbbOXn78Pjd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zOrRGw0Dvd92" style="display: none">Schedule of Deductible Temporary Differences and Unused Tax Losses</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Restated – Note 27)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Expiry</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Expiry</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 13%; text-align: justify">Share issue costs</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_989_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zehUO8GvKR26" style="width: 11%; font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">2,782,651</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 11%; font-weight: bold; text-align: right"><span id="xdx_905_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_z9tuYYlvDYT4">2027</span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_z4KVAqWtY3E7" style="width: 11%; text-align: right" title="Deductible temporary differences and unused tax losses">2,119,858</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90C_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zsoPSz9SI9Mj" title="Deductible temporary differences and unused tax losses, expiry">2027</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zVFJwrDSoKE6" style="width: 10%; text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4678">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Property and equipment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zasqfx60vNKj" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">16,101</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>N/A</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zUt0cWduWwLk" style="text-align: right" title="Deductible temporary differences and unused tax losses">153,117</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zwZ6KPNVZC71" style="text-align: right" title="Deductible temporary differences and unused tax losses">530,466</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Asset retirement obligation</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_zxHQkkCrlmQe" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4686">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>N/A</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_zlxAMqGjHl9k" style="text-align: right" title="Deductible temporary differences and unused tax losses">5,718,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_zMDq0nQp5SMf" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4690">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Exploration and evaluation assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zFxQxlQp9w54" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4692">-</span></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>N/A</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zpAaHDKf1qta" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4694">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zUyoSSk2VAqb" style="text-align: right" title="Deductible temporary differences and unused tax losses">4,724,218</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90D_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20210101__20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zg1PCINNeEUj" title="Deductible temporary differences and unused tax losses, expiry">No Expiry</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Non-capital losses</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_989_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zyeihcjadnr9" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">23,300,283</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>See below</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zqArZZZyeyEa" style="text-align: right" title="Deductible temporary differences and unused tax losses">28,385,944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See below</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zTHHSviuQ5Q1" style="text-align: right" title="Deductible temporary differences and unused tax losses">17,506,229</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">See below</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Canada</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_989_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zrDEFRR5YeJ9" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">9,283,130</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98D_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zIJeXos3yKJj" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2042 to 2043</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zXCC6XdlsxU7" style="text-align: right" title="Deductible temporary differences and unused tax losses">3,995,237</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zz58aXWEiHa1" style="text-align: right" title="Deductible temporary differences and unused tax losses, expiry">2042</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zCIOrVzfFcd1" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4714">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">USA</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98C_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zvVlj9ES4IVe" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">4,228,651</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_901_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zNFb60lHMmSk">indefinite</span></b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zvijTV9ZH7V6" style="text-align: right" title="Deductible temporary differences and unused tax losses">16,533,694</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zmgloY7Hvd2c" title="Deductible temporary differences and unused tax losses, expiry">indefinite</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zPjVnYmvvd1l" style="text-align: right" title="Deductible temporary differences and unused tax losses">16,638,773</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_907_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20210101__20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zLCE3jYKPSS" title="Deductible temporary differences and unused tax losses, expiry">indefinite</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">USA</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98B_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zzBO3U8jffG8" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">9,785,059</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_907_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_z6xaClq59nj6">2028 to 2037</span></b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zEQyqrHK6lpc" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4730">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zExgu6zt66Oi" style="text-align: right" title="Deductible temporary differences and unused tax losses, expiry"><span style="-sec-ix-hidden: xdx2ixbrl4732">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_z8W0fjUvZbt7" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4734">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Turkey</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_982_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zWK1nB6Jul84" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4736">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>N/A</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zLEGnoUXJFoc" style="text-align: right" title="Deductible temporary differences and unused tax losses">723,950</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_z4YeFzSoVqk1" style="text-align: right" title="Deductible temporary differences and unused tax losses, expiry"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024 to 2027</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zHCn3UIOpVca" style="text-align: right" title="Deductible temporary differences and unused tax losses">867,456</td><td style="text-align: left"> </td><td> </td> <td id="xdx_987_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20210101__20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_z2LEzgivTq7c" style="text-align: center" title="Deductible temporary differences and unused tax losses">2024 to 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Bulgaria</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_989_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zbgBPzAmdHj4" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">3,443</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_988_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_z2B0sVTv0cFi" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses, expiry">2028</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zNmKjj7oAJa8" style="text-align: right" title="Deductible temporary differences and unused tax losses">2,401</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zwyxNo2vFhoj" style="text-align: right" title="Deductible temporary differences and unused tax losses, expiry">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_z7r0gwdi47H3" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4754">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> </table> <p id="xdx_8A3_zRrXYxnHjmja" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_892_ecustom--DisclosureOfDetailedInformationAboutReconciliationOfCurrentIncomeTaxesExplanatory_zw0tEItKGzrf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation of current income taxes at statutory rates with the reported taxes is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zT2gEOu3mVZ1" style="display: none">Schedule of Reconciliation of Current Income Taxes</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="vertical-align: bottom; text-align: left"><p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">For the years ended December 31,</p></td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zaSoYVEYeMx3" style="border-bottom: Black 1pt solid; text-align: center">2023<br/> (Restated – <br/>Note 27)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20220101__20221231_zgat3HfDw177" style="border-bottom: Black 1pt solid; text-align: center">2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20210101__20211231_z9Nn800iLQM6" style="border-bottom: Black 1pt solid; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_eifrs-full--AccountingProfit_zJW9t8aDsG57" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify; padding-bottom: 1pt">Net income (loss) before income taxes</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,816,484</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">(6,121,754</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">(4,893,126</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eifrs-full--ApplicableTaxRate_pid_dp_zF8FI34qQLLa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Effective tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_ecustom--TaxEffectOfExpectedIncomeTaxRecovery_iN_di_msITECOz9gd_zokZkrIhX08a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected income tax recovery</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">490,451</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,652,874</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,321,144</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eifrs-full--TaxEffectFromChangeInTaxRate_maITECOz9gd_zQe8JXcDzOl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Change in statutory, foreign tax, foreign exchange rates, and other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(199,665</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">238,194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">378,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--TaxEffectFromPermanentDifferences_maITECOz9gd_zRFxkC5Vojo" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Permanent differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,335,113</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">649,306</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">609,738</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--TaxEffectOfAdjustmentToPriorYearsProvisionVersusStatutoryTaxReturnsAndExpiryOfNoncapitalLoses_maITECOz9gd_zjy2Nk45hzQc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249,576</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4628">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,336,200</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--TaxEffectOfChangeInUnrecognizedDeductibleTemporaryDifferences_maITECOz9gd_zW7X1tvoWik9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Change in unrecognized deductible temporary differences</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,149</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">765,374</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,669,456</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--IncomeTaxExpenseContinuingOperations_iT_mtITECOz9gd_zlczBMrrtiN3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,860,326</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4636">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4637">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 1816484 -6121754 -4893126 0.27 0.27 0.27 -490451 1652874 1321144 -199665 238194 378150 1335113 649306 609738 249576 -1336200 -15149 765374 1669456 1860326 <p id="xdx_895_eifrs-full--DisclosureOfDeferredTaxesExplanatory_zDt8IzgKUEn4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The tax effected items that give rise to significant portions of the deferred tax assets and deferred tax liabilities as at year-end are presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zM4e3IK1yRXi" style="display: none">Schedule of Deferred Tax Assets and Liabilities</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">As at December 31,</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_z6HDUB9STvqg" style="border-bottom: Black 1pt solid; text-align: right">2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20221231_zis4TNQ53ku5" style="border-bottom: Black 1pt solid; text-align: right">2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20211231_zabQWwgtnBK3" style="border-bottom: Black 1pt solid; text-align: right">2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxLiabilitiesExplorationAndEvaluationAssets_iNI_di_msNDTAz6z3_zQm5dnlV8x6" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify">Exploration and evaluation assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(9,990,074</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(1,426,133</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4643">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DeferredTaxLiabilitiesPropertyAndEquipment_iNI_di_msNDTAz6z3_zuDzlD61mHVe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,011</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4646">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4647">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DeferredTaxLiabilitiesConvertibleDebt_iNI_di_msNDTAz6z3_zrt38OPnrM4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(327,305</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4650">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4651">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DeferredTaxAssetsHeldForSale_iI_maNDTAz6z3_zFgctFZs380d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Assets held for sale</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">311,357</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4654">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4655">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DeferredTaxAssetRetirementObligation_iI_maNDTAz6z3_zBjYbTAXns05" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,249,406</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetNoncapitalLosses_iI_maNDTAz6z3_z9aZh0oxTDSg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-capital losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,685,079</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,426,133</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4663">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--NetDeferredTaxAssets_iTI_mtNDTAz6z3_zATWpzKPQsIf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Net deferred tax assets (liabilities)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,131,548</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4666">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4667">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 9990074 1426133 60011 327305 311357 1249406 6685079 1426133 -2131548 <p id="xdx_891_eifrs-full--DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory_zJbbOXn78Pjd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zOrRGw0Dvd92" style="display: none">Schedule of Deductible Temporary Differences and Unused Tax Losses</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Restated – Note 27)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Expiry</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Expiry</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 13%; text-align: justify">Share issue costs</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_989_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zehUO8GvKR26" style="width: 11%; font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">2,782,651</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 11%; font-weight: bold; text-align: right"><span id="xdx_905_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_z9tuYYlvDYT4">2027</span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_z4KVAqWtY3E7" style="width: 11%; text-align: right" title="Deductible temporary differences and unused tax losses">2,119,858</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90C_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zsoPSz9SI9Mj" title="Deductible temporary differences and unused tax losses, expiry">2027</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zVFJwrDSoKE6" style="width: 10%; text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4678">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Property and equipment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zasqfx60vNKj" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">16,101</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>N/A</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zUt0cWduWwLk" style="text-align: right" title="Deductible temporary differences and unused tax losses">153,117</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zwZ6KPNVZC71" style="text-align: right" title="Deductible temporary differences and unused tax losses">530,466</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Asset retirement obligation</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_zxHQkkCrlmQe" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4686">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>N/A</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_zlxAMqGjHl9k" style="text-align: right" title="Deductible temporary differences and unused tax losses">5,718,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_zMDq0nQp5SMf" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4690">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Exploration and evaluation assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zFxQxlQp9w54" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4692">-</span></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>N/A</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zpAaHDKf1qta" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4694">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zUyoSSk2VAqb" style="text-align: right" title="Deductible temporary differences and unused tax losses">4,724,218</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90D_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20210101__20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--ExplorationAndEvaluationAssetsMember_zg1PCINNeEUj" title="Deductible temporary differences and unused tax losses, expiry">No Expiry</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Non-capital losses</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_989_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zyeihcjadnr9" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">23,300,283</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>See below</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zqArZZZyeyEa" style="text-align: right" title="Deductible temporary differences and unused tax losses">28,385,944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See below</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zTHHSviuQ5Q1" style="text-align: right" title="Deductible temporary differences and unused tax losses">17,506,229</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">See below</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Canada</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_989_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zrDEFRR5YeJ9" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">9,283,130</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98D_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zIJeXos3yKJj" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2042 to 2043</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zXCC6XdlsxU7" style="text-align: right" title="Deductible temporary differences and unused tax losses">3,995,237</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zz58aXWEiHa1" style="text-align: right" title="Deductible temporary differences and unused tax losses, expiry">2042</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zCIOrVzfFcd1" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4714">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">USA</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98C_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zvVlj9ES4IVe" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">4,228,651</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_901_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zNFb60lHMmSk">indefinite</span></b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zvijTV9ZH7V6" style="text-align: right" title="Deductible temporary differences and unused tax losses">16,533,694</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zmgloY7Hvd2c" title="Deductible temporary differences and unused tax losses, expiry">indefinite</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zPjVnYmvvd1l" style="text-align: right" title="Deductible temporary differences and unused tax losses">16,638,773</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_907_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20210101__20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zLCE3jYKPSS" title="Deductible temporary differences and unused tax losses, expiry">indefinite</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">USA</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98B_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zzBO3U8jffG8" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">9,785,059</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_907_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_z6xaClq59nj6">2028 to 2037</span></b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zEQyqrHK6lpc" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4730">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zExgu6zt66Oi" style="text-align: right" title="Deductible temporary differences and unused tax losses, expiry"><span style="-sec-ix-hidden: xdx2ixbrl4732">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_z8W0fjUvZbt7" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4734">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Turkey</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_982_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zWK1nB6Jul84" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4736">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>N/A</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zLEGnoUXJFoc" style="text-align: right" title="Deductible temporary differences and unused tax losses">723,950</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_z4YeFzSoVqk1" style="text-align: right" title="Deductible temporary differences and unused tax losses, expiry"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024 to 2027</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zHCn3UIOpVca" style="text-align: right" title="Deductible temporary differences and unused tax losses">867,456</td><td style="text-align: left"> </td><td> </td> <td id="xdx_987_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20210101__20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_z2LEzgivTq7c" style="text-align: center" title="Deductible temporary differences and unused tax losses">2024 to 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Bulgaria</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_989_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zbgBPzAmdHj4" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">3,443</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_988_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_z2B0sVTv0cFi" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses, expiry">2028</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zNmKjj7oAJa8" style="text-align: right" title="Deductible temporary differences and unused tax losses">2,401</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20220101__20221231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zwyxNo2vFhoj" style="text-align: right" title="Deductible temporary differences and unused tax losses, expiry">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20211231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_z7r0gwdi47H3" style="text-align: right" title="Deductible temporary differences and unused tax losses"><span style="-sec-ix-hidden: xdx2ixbrl4754">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> </table> 2782651 2027 2119858 2027 16101 153117 530466 5718041 4724218 No Expiry 23300283 28385944 17506229 9283130 2042 to 2043 3995237 2042 4228651 indefinite 16533694 indefinite 16638773 indefinite 9785059 2028 to 2037 723950 2024 to 2027 867456 2024 to 2026 3443 2028 2401 2027 <p id="xdx_80C_eifrs-full--DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_zv94cBYmCaV3" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>25.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_825_zVJxdlWMO6fl">Commitments and Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Close-out Fund</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has committed to contribute to the Close-Out Fund (Note 13) and is required to deposit <span id="xdx_90C_ecustom--NaturalGasRevenueDepositPercentage_iI_pid_dp_c20231231_zpqgn0BvMrMf" title="Natural gas revenue deposit percentage">10</span>% of natural gas revenue from the SASB project into the Close-Out Fund until an amount agreed to by both parties is attained. The amount accumulated in the Close-Out Fund will not be used for any purpose other than to cover the cost of close-out of the SASB project.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Arbitration</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company through its’ subsidiary PPE Turkey has advanced arbitration against an offshore drilling rig contractor for $<span id="xdx_90F_eifrs-full--EstimatedFinancialEffectOfContingentLiabilities_iI_pn5n6_c20231231__ifrs-full--ClassesOfContingentLiabilitiesAxis__ifrs-full--LegalProceedingsContingentLiabilityMember__ifrs-full--CounterpartiesAxis__custom--OffshoreDrillingRigContractorMember_z2Tf9nHPHfC3" title="Arbitration damages sought, value">20.3</span> million for gross negligent and breach of contact involving health and safety issues during the prior year drilling program resulting in loss and damages to Company (the “Trillion Losses”). Liability is not admitted, the litigation is at the inception, and thus, legal counsel has advised that is it too soon to predict the outcome or the quantum of damages that will be assessed. The Company is confident that its case has merit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company and its subsidiary PPE Turkey is defending an action brought by the same drilling contractor in Europe to which it has advanced an arbitration claim, for drilling services and lost profits seeking $<span id="xdx_907_eifrs-full--EstimatedFinancialEffectOfContingentLiabilities_iI_pn6n6_c20231231__ifrs-full--ClassesOfContingentLiabilitiesAxis__ifrs-full--LegalProceedingsContingentLiabilityMember__ifrs-full--CounterpartiesAxis__custom--OffshoreDrillingRigContractorMember__srt--StatementGeographicalAxis__srt--EuropeMember_zNQ9p9CtAGdg" title="Arbitration damages sought, value">5</span> million. As no document disclosure has occurred at this time, and the litigation is at its inception, legal counsel has been unable to provide an opinion on the merits of the action or defenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with guidance for contingent assets and liabilities, no provision for any potential recovery of the Trillion Losses will be made until recovery is virtually certain. If the Company’s claim is successful, the award will exceed the amount, if any, that is payable to the drilling contractor in its claim, notwithstanding the same, the Company has evaluated the two competing actions separately. As such, the Company has recorded an amount in accounts payable and accrued liabilities for the disputed drilling services for $<span id="xdx_900_eifrs-full--EstimatedFinancialEffectOfContingentLiabilities_iI_pn6n6_c20231231__ifrs-full--ClassesOfContingentLiabilitiesAxis__ifrs-full--LegalProceedingsContingentLiabilityMember__ifrs-full--CounterpartiesAxis__custom--OffshoreDrillingRigContractorMember__srt--StatementGeographicalAxis__srt--EuropeMember__ifrs-full--ClassesOfLiabilitiesAxis__custom--AccountsPayablesAndAccruedLiabilitiesMember_z7VgyVdDXtJk" title="Arbitration damages sought, value">3</span> million, and has not yet recorded, due to the status of its arbitration claim, any asset amount for its $<span id="xdx_900_eifrs-full--EstimatedFinancialEffectOfContingentLiabilities_iI_pn5n6_c20231231__ifrs-full--ClassesOfContingentLiabilitiesAxis__ifrs-full--LegalProceedingsContingentLiabilityMember__ifrs-full--CounterpartiesAxis__custom--OffshoreDrillingRigContractorMember_zhBMpBHGuxJd" title="Arbitration damages sought, value">20.3</span> million claim against the drilling contractor. Once legal opinion as to the likely outcome has been obtained, the Company intends to revise the contingent amounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>25.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commitments and Contingencies (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Maturity date of TR1 Master Fund loans</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has two loan agreements dated July 1, 2023 with TR1 Master Fund whereby the Company owes $<span id="xdx_900_eifrs-full--Borrowings_iI_c20231231__ifrs-full--BorrowingsByNameAxis__custom--TR1MasterFundLoansMember_zFxLYaeDLvVi" title="Loan payable">2,822,250</span> in principal and accrued interest as at December 31, 2023 (Note 10). An agent for the receiver of TR1 Master Fund has demanded payment of the loans as the loans indicate that they were due on <span id="xdx_903_eifrs-full--BorrowingsMaturity_c20230101__20231231__ifrs-full--BorrowingsByNameAxis__custom--TR1MasterFundLoansMember_zCAbidQyWh4e" title="Loan, maturity date">December 31, 2023</span>. The Company is claiming that the principal of TR1 Master Fund agreed to extend the loans to December 31, 2024. Negotiations on repayment of the loans with the agent of the receiver for TR1 Master Fund are ongoing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.10 20300000 5000000 3000000 20300000 2822250 December 31, 2023 <p id="xdx_801_eifrs-full--DisclosureOfEventsAfterReportingPeriodExplanatory_zMP2bxKz6" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>26.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_820_zLh5FC2keJa7">Subsequent Events</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 2, 2024, the Company entered into a consulting agreement with San Diego Torry Hills Capital, Inc for consulting services to the Company, including developing, coordinating, managing and executing a comprehensive corporate finance and investor relations campaign for the Company. Pursuant to the agreement, the Company granted <span id="xdx_900_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_uShares_c20240102__20240102__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember__ifrs-full--CounterpartiesAxis__custom--SanDiegoToryHillsCapitalIncMember_zkS0KDx26e2a" title="Number of stock options granted">200,000</span> stock options at an exercise price of CAD$<span id="xdx_904_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_pid_uCADPShares_c20240102__20240102__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember__ifrs-full--CounterpartiesAxis__custom--SanDiegoToryHillsCapitalIncMember_zjJ4MBFSqr4" title="Stock options granted, exercise price">0.30</span>. The options will expire <span id="xdx_903_eifrs-full--DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement_c20240102__20240102__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember__ifrs-full--CounterpartiesAxis__custom--SanDiegoToryHillsCapitalIncMember_zZzBJ5wMnbgd" title="Stock options granted, maturity date">January 2, 2027</span>, and will vest quarterly as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_eifrs-full--NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_uShares_c20240102__20240102__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember__ifrs-full--CounterpartiesAxis__custom--SanDiegoToryHillsCapitalIncMember_zbenChy4FNW9" title="Number of stock options vesting">50,000</span> Options will vest on January 2, 2024;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eifrs-full--NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_uShares_c20240402__20240402__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember__ifrs-full--CounterpartiesAxis__custom--SanDiegoToryHillsCapitalIncMember_z0UhIFtHsrgk" title="Number of stock options vesting">50,000</span> Options will vest on April 2, 2024;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eifrs-full--NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_uShares_c20240702__20240702__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember__ifrs-full--CounterpartiesAxis__custom--SanDiegoToryHillsCapitalIncMember_zuD8Pew018Gi" title="Number of stock options vesting">50,000</span> Options will vest on July 2, 2024; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eifrs-full--NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_uShares_c20241002__20241002__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember__ifrs-full--CounterpartiesAxis__custom--SanDiegoToryHillsCapitalIncMember_zsKHf0dI303" title="Number of stock options vesting">50,000</span> Options will vest on October 2, 2024;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent to December 31, 2023, the Company issued common shares as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_ecustom--NumberOfSharesIssuedSettleRestrictedStockUnitsAndOtherObligations_uShares_c20240101__20240429__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zjPw5SWq6LM8" title="Number of shares issued settle RSUs owed and other obligations">2,178,957</span> to settle RSUs owed as at December 31, 2023 and to settle other obligations incurred in 2024;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_ecustom--NumberOfSharesIssuedSettleOutstandingDebt_uShares_c20240101__20240429__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zJP2dKmdYLO4" title="Number of shares issued settle outstanding debt">4,486,250</span> to settle debt;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_ecustom--NumberOfSharesIssuedSettleDebtAndSigningBonus_uShares_c20240101__20240429__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zZdkVkmjQ4jf" title="Number of shares issued settle debt and signing bonus">673,375</span> pursuant to shares owed as part of a signing bonus, and to settle debt;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--NumberOfSharesIssuedSettleDebtAndOtherObligations_uShares_c20240101__20240429__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_z2n6RkhVvCi6" title="Number of shares issued settle debt and other obligations">640,950</span> to settle debt and other obligations</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_ecustom--NumberOfSharesIssuedDebtConversion_pid_uShares_c20240101__20240429__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zLSoVsG5zxRf" title="Number of shares issued for debenture conversion">333</span> pursuant to the conversion of CAD$<span id="xdx_908_ecustom--DebtConversionOriginalDebtConverted_uCAD_c20240101__20240429__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_z3dz8BbNTc0a" title="Convertible debentures principal converted">1,000</span> of principal convertible debentures.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 200000 0.30 January 2, 2027 50000 50000 50000 50000 2178957 4486250 673375 640950 333 1000 <p id="xdx_803_ecustom--DisclosureOfRestatementOfPreviouslyIssuedConsolidatedFinancialStatementsExplanatory_zrAI6DrLSyvc" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>27.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_821_zRFjsL4Up6c1">Restatement of Previously Issued Consolidated Financial Statements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Restatement of December 31, 2021 US GAAP consolidated financial statements:</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following restatement note to comparative periods were included in the Company’s December 31, 2022 consolidated financial statements prepared in accordance with IFRS and is reproduced as previously reported except for the following adjustments:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The “As previously reported under US GAAP” and “Adjustment” columns were previously labeled “(Audited)”.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The “As restated under US GAAP” columns were previously labeled “(Unaudited)”.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These labels are removed as the columns are covered by the auditors’ report attached to these consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Consolidated Statements of Loss and Comprehensive Loss for the Year Ended December 31, 2021</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"> </span></span></p> <p id="xdx_890_ecustom--DisclosureOfDetailedInformationAboutErrorCorrectionsAndPriorPeriodAdjustmentsExplanatory_gL3DODIAECAPP-JCTLTS_zXJTdH5HJzMl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B4_z7ALk5VWfVoa" style="display: none">Schedule of Error Corrections Consolidated Financial Statements</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zkXFAhqWtJOk" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As previously reported</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>under US GAAP</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zC46fZrs61Sb" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Adjustment</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zOUN6Lmzcmah" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As restated under</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US GAAP</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_ecustom--ChangeInFairValueOfDerivativeLiability_zfMv0rlfFj88" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Change in fair value of derivative liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,473,638</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(3,064,400</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(1,590,762</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eifrs-full--ProfitLoss_zhWGosYviNVd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,050,550</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,064,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,114,950</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eifrs-full--ComprehensiveIncome_zS4nAN15KqZb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Net and comprehensive loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,407,790</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,064,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,472,190</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Basic and diluted loss per share</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_90D_eifrs-full--BasicEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zDLE4G4wWwQ" title="Net loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_900_eifrs-full--DilutedEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_z9c24OOUxwnf" title="Net loss per share - diluted">(0.01</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_90E_eifrs-full--BasicEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zJBPpVqhohA3" title="Net loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_901_eifrs-full--DilutedEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zcPDM2i2mkf3" title="Net loss per share - diluted">(0.02</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_905_eifrs-full--BasicEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zRXeVWEhcFj9" title="Net loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_904_eifrs-full--DilutedEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_z0jkJNvqnQV3" title="Net loss per share - diluted">(0.03</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Consolidated Statements of Financial Position as at December 31, 2021</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zcpunkKegrBj" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As previously reported</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>under US GAAP</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zfL0R3BAzDDg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Adjustment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember_z3n29peFFPai" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As restated under</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US GAAP</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40E_eifrs-full--AdditionalPaidinCapital_iI_ziX9ZkxJiOOf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Additional paid-in capital</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">33,295,413</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,064,400</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">36,359,813</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--RetainedEarnings_iI_ztqBk8YzKCVk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Accumulated deficit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(30,527,877</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(33,592,277</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> <p id="xdx_8A8_zuEWhOrRxJu2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2021, warrants which were liability classified were exercised. Upon the exercise of the warrants, the Company erroneously recorded the entirety of the value associated with the derivative liability through profit and loss as a change in the fair value of the derivative liability. To correct for the error, the Company has restated the change in the fair value of the derivative liability to exclude the fair value of the shares issued upon the exercise of the warrants, which should have been recognized in equity as an increase to additional paid-in capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There was no effect on the consolidated statements of cash flows as a result of the correction of this error.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>27.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Restatement of Previously Issued Consolidated Financial Statements (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Restatement of December 31, 2022 IFRS consolidated financial statements:</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements for the years ended December 31, 2022 and 2021, including the Company’s January 1, 2021 opening statement of financial position prepared in accordance with IFRS has been included in these consolidated financial statements as comparative periods and is reproduced as previously reported except for the following adjustments:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The columns of the statements of financial position as at December 31, 2021 and January 1, 2021 were previously labeled “(Unaudited)”.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The columns or rows (as applicable) of the statements of loss and comprehensive loss, stockholders’ deficiency and cash flows for the year ended December 31, 2021 were previously labeled “(Unaudited)”.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These labels are removed as the columns or rows (as applicable) are covered by the auditors’ report attached to these consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The explanatory notes to the Company’s First-time Adoption of IFRS as included in the consolidated financial statements for the years ended December 31, 2022 and 2021, including the Company’s January 1, 2021 opening statement of financial position prepared in accordance with IFRS has been included in these consolidated financial statements and is reproduced as previously reported (refer to note 2(u)) except for the following adjustments:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The “US GAAP”, “Restatement”, and “Effect of Transition to IFRS” columns were previously labeled “(Audited)”.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The “IFRS” columns were previously labeled “(Unaudited)”.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These labels are removed as the columns are covered by the auditors’ report attached to these consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Restatement of December 31, 2023 IFRS consolidated financial statements:</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has restated its consolidated financial statements for the year ended December 31, 2023 as a result of a foreign exchange loss on intercompany accounts that was previously recorded in net loss, and which should have been recorded in other comprehensive loss. IAS 21, <i>The effects of changes in foreign exchange rates</i>, requires that foreign exchange gains and losses on items that form part of an entity’s net investment in a foreign operation, should be recognized in other comprehensive income or loss in the Company’s consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_C08_gL3DODIAECAPP-JCTLTS_zXojAwkbx9g2">The following table summarizes the line items impacted in the consolidated statements of financial position:</span></span></p> <div id="xdx_C0E_gL3DODIAECAPP-JCTLTS_zfft6jmEOyNe"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_308_134_zFNYwjsjrTN2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Error Corrections Consolidated Financial Statements (Details)"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">As at December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember_zU7P4LaU4rXh" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As previously<br/> reported</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember_zEg2mWSQJHG6" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Restatement</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember_zzBZaJzsV0Na" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As restated</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40A_eifrs-full--AccumulatedOtherComprehensiveIncome_iI_zM5FxQegP6f6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Accumulated other comprehensive loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(12,964,837</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(1,058,352</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(14,023,189</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_eifrs-full--RetainedEarnings_iI_zroGp6C58BMh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(45,939,198</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,058,352</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(44,880,846</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--Equity_iI_zZmx9Xal8CJe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total stockholders’ equity</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">22,212,572</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4851">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">22,212,572</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> </div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_C0C_gL3DODIAECAPP-JCTLTS_zoj7L2SfQJY7"> </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRILLION ENERGY INTERNATIONAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to the Restated Consolidated Financial Statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023, 2022, and 2021</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed in U.S. dollars)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>27.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Restatement of Previously Issued Consolidated Financial Statements (continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_C04_gL3DODIAECAPP-JCTLTS_zGT8kNI7rXb2">The following table summarizes the line items impacted in the consolidated statements of income (loss) and comprehensive income (loss):</span></span></p> <div id="xdx_C09_gL3DODIAECAPP-JCTLTS_zrcN9pnd2Lfd"><div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_30A_134_zfVYrxVTAmje" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Error Corrections Consolidated Financial Statements (Details)"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">For the year ended December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember_zCiZi1bKqTel" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As previously<br/> reported</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember_zn6k7BQQIdfd" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Restatement</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember_ztenf9uVY3x2" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As restated</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eifrs-full--GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_z7DGhZBxXInf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Foreign exchange gain (loss)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(10,990,604</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,058,352</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(9,932,252</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_eifrs-full--OtherOperatingIncomeExpense_zmc89GA4ES6k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total other income (expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,239,593</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,058,352</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,297,945</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--ProfitLossFromContinuingOperations_z7jXccyqn7D7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Net income (loss) before taxes</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">758,132</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,058,352</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,816,484</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--ProfitLoss_z8BN4auf2Kzg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Net loss</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(1,102,194</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,058,352</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(43,842</td><td style="font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--OtherComprehensiveIncomeAbstract_iB_zUVXAyHoe5Sf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other comprehensive loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_zqwWnhGHC8Yd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign currency translation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,954,840</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,058,352</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,013,192</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eifrs-full--ComprehensiveIncome_zGen1KCWiBD4" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Comprehensive loss</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(10,057,034</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4879">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(10,057,034</td><td style="font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net income (loss) per share – Basic and diluted</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_901_eifrs-full--BasicEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember_zhAMHoH7S6Uc" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_90B_eifrs-full--DilutedEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember_z9JIHkmbBik9" title="Loss per share - diluted">(0.01</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_901_eifrs-full--BasicEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember_z5aFAYQIQH29" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_907_eifrs-full--DilutedEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember_z5Wf3mAWH3Kk" title="Loss per share - diluted">0.01</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_907_eifrs-full--BasicEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember_zcZBaMvmBAda" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_905_eifrs-full--DilutedEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember_zIPXEyQ0TMv" title="Loss per share - diluted">(0.00</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> </div></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_C0F_gL3DODIAECAPP-JCTLTS_zHkXW46Xd2Ri"> </span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The above changes were adjusted through to the consolidated statements of stockholder’ equity, cash flows, and notes to the consolidated financial statements for the year ended December 31, 2023. However, there were no changes to the reported totals of cash flows from (used in) operating, investing and financing activities.</span></p> <p id="xdx_890_ecustom--DisclosureOfDetailedInformationAboutErrorCorrectionsAndPriorPeriodAdjustmentsExplanatory_gL3DODIAECAPP-JCTLTS_zXJTdH5HJzMl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B4_z7ALk5VWfVoa" style="display: none">Schedule of Error Corrections Consolidated Financial Statements</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zkXFAhqWtJOk" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As previously reported</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>under US GAAP</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zC46fZrs61Sb" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Adjustment</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zOUN6Lmzcmah" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As restated under</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US GAAP</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_ecustom--ChangeInFairValueOfDerivativeLiability_zfMv0rlfFj88" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Change in fair value of derivative liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,473,638</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(3,064,400</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(1,590,762</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eifrs-full--ProfitLoss_zhWGosYviNVd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,050,550</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,064,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,114,950</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eifrs-full--ComprehensiveIncome_zS4nAN15KqZb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Net and comprehensive loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,407,790</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,064,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,472,190</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Basic and diluted loss per share</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_90D_eifrs-full--BasicEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zDLE4G4wWwQ" title="Net loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_900_eifrs-full--DilutedEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_z9c24OOUxwnf" title="Net loss per share - diluted">(0.01</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_90E_eifrs-full--BasicEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zJBPpVqhohA3" title="Net loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_901_eifrs-full--DilutedEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zcPDM2i2mkf3" title="Net loss per share - diluted">(0.02</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_905_eifrs-full--BasicEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zRXeVWEhcFj9" title="Net loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_904_eifrs-full--DilutedEarningsLossPerShare_pid_c20210101__20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_z0jkJNvqnQV3" title="Net loss per share - diluted">(0.03</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Consolidated Statements of Financial Position as at December 31, 2021</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zcpunkKegrBj" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As previously reported</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>under US GAAP</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20211231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember_zfL0R3BAzDDg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Adjustment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20211231__ifrs-full--FinancialEffectOfTransitionFromPreviousGAAPToIFRSsAxis__custom--PriorGAAPMember__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember_z3n29peFFPai" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As restated under</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US GAAP</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40E_eifrs-full--AdditionalPaidinCapital_iI_ziX9ZkxJiOOf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Additional paid-in capital</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">33,295,413</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,064,400</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">36,359,813</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--RetainedEarnings_iI_ztqBk8YzKCVk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Accumulated deficit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(30,527,877</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,064,400</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(33,592,277</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> The following table summarizes the line items impacted in the consolidated statements of financial position:<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_308_134_zFNYwjsjrTN2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Error Corrections Consolidated Financial Statements (Details)"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">As at December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember_zU7P4LaU4rXh" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As previously<br/> reported</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember_zEg2mWSQJHG6" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Restatement</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember_zzBZaJzsV0Na" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As restated</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40A_eifrs-full--AccumulatedOtherComprehensiveIncome_iI_zM5FxQegP6f6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Accumulated other comprehensive loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(12,964,837</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(1,058,352</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(14,023,189</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_eifrs-full--RetainedEarnings_iI_zroGp6C58BMh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(45,939,198</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,058,352</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(44,880,846</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--Equity_iI_zZmx9Xal8CJe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total stockholders’ equity</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">22,212,572</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4851">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">22,212,572</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>  The following table summarizes the line items impacted in the consolidated statements of income (loss) and comprehensive income (loss):<div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_30A_134_zfVYrxVTAmje" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Error Corrections Consolidated Financial Statements (Details)"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">For the year ended December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember_zCiZi1bKqTel" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As previously<br/> reported</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember_zn6k7BQQIdfd" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Restatement</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember_ztenf9uVY3x2" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As restated</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eifrs-full--GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_z7DGhZBxXInf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Foreign exchange gain (loss)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(10,990,604</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,058,352</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(9,932,252</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_eifrs-full--OtherOperatingIncomeExpense_zmc89GA4ES6k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total other income (expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,239,593</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,058,352</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,297,945</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--ProfitLossFromContinuingOperations_z7jXccyqn7D7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Net income (loss) before taxes</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">758,132</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,058,352</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,816,484</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--ProfitLoss_z8BN4auf2Kzg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Net loss</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(1,102,194</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,058,352</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(43,842</td><td style="font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--OtherComprehensiveIncomeAbstract_iB_zUVXAyHoe5Sf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other comprehensive loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_zqwWnhGHC8Yd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign currency translation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,954,840</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,058,352</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,013,192</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eifrs-full--ComprehensiveIncome_zGen1KCWiBD4" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Comprehensive loss</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(10,057,034</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4879">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(10,057,034</td><td style="font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net income (loss) per share – Basic and diluted</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_901_eifrs-full--BasicEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember_zhAMHoH7S6Uc" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_90B_eifrs-full--DilutedEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--PreviouslyStatedMember_z9JIHkmbBik9" title="Loss per share - diluted">(0.01</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_901_eifrs-full--BasicEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember_z5aFAYQIQH29" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_907_eifrs-full--DilutedEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__ifrs-full--FinancialEffectOfCorrectionsOfAccountingErrorsMember_z5Wf3mAWH3Kk" title="Loss per share - diluted">0.01</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_907_eifrs-full--BasicEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember_zcZBaMvmBAda" title="Loss per share - basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEVycm9yIENvcnJlY3Rpb25zIENvbnNvbGlkYXRlZCBGaW5hbmNpYWwgU3RhdGVtZW50cyAoRGV0YWlscykA" id="xdx_905_eifrs-full--DilutedEarningsLossPerShare_c20230101__20231231__ifrs-full--RetrospectiveApplicationAndRetrospectiveRestatementAxis__custom--RestateMember_zIPXEyQ0TMv" title="Loss per share - diluted">(0.00</span></span></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> </div>  1473638 -3064400 -1590762 -2050550 -3064400 -5114950 -2407790 -3064400 -5472190 -0.01 -0.01 -0.02 -0.02 -0.03 -0.03 33295413 3064400 36359813 -30527877 -3064400 -33592277 -12964837 -1058352 -14023189 -45939198 1058352 -44880846 22212572 22212572 -10990604 1058352 -9932252 4239593 1058352 5297945 758132 1058352 1816484 -1102194 1058352 -43842 -8954840 -1058352 -10013192 -10057034 -10057034 -0.01 -0.01 0.01 0.01 -0.00 -0.00 Loans bearing interest accrue at 10% and 12% per annum are all unsecured. The loans matured between January and April 1, 2021 and thereafter were due on demand. During the year ended December 31, 2023, the Company made principal payments of $Nil (2022 - $135,868) and $Nil (2022 - $3,515) in interest payments. During the year ended December 31, 2023, the Company wrote off the remaining balance of $12,107. On May 25, 2022, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺1,500,000 (or approximately USD$91,961). The loan matures on May 23, 2024, and bears interest at 45.33% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2023, the Company made $45,832 (2022 - $26,968) in principal payments and $14,717 (2022 - $20,636) in interest payments. On November 23, 2022, Garanti Bank extended a short-term loan to Park Place Turkey Limited in the amount of ₺2,000,000 (or approximately USD$107,356). The loan matures on November 23, 2023, and bears interest at the Turkish Lira Overnight Reference Rate (“TLREF”) plus 3.5944% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2023, the Company made $79,372 (2022 - $10,183) in principal payments and $4,264 (2022 - $1,607) in interest payments. On March 13, 2023, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺2,000,000 (or approximately USD$105,386). The loan matures on March 12, 2024, and bears interest at 37.67% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2023, the Company made $61,627 (2022 - $nil) in principal payments and $18,676 (2022 - $nil) in interest payments. On July 1, 2023, the Company entered into agreements with TR1 Master Fund to borrow $1,065,000 and $1,597,500. The loans were issued with a $65,000 and $97,500 discount, respectively, and bear an interest rate of 1% per month. The maturity date was December 31, 2023, and the Company is claiming that the principal of TR1 Master Fund agreed to extend the loans to December 31, 2024. In the event that the loan is repaid in full prior to the maturity date, the minimum interest payments on the loans are $40,000 and $60,000, respectively. The minimum interest payments have been recorded on the consolidated statements of income (loss) and comprehensive income (loss) as finance costs. Accrued interest in excess of the minimum interest payments of $23,900 and $35,850, respectively were recorded during the year ended December 31, 2023. Accretion of the discount recognized on the loans during the period were $63,916 and $96,138, respectively. If, during the period that any amount of the loan remains outstanding, the Company issues any equity, the Lender may demand repayment of all or part of the principal amount of the loan in an amount equal to the aggregate subscription price of the equity offering. The Company is currently in discussions with the lender and has not made any repayments as at the date of these consolidated financial statements (Note 25). On July 20, 2023, the Company entered into a promissory note with 1324025 BC Ltd for CAD$300,000 (USD$228,023). The promissory note bears an interest rate of 6% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024. During the year ended December 31, 2023, CAD$50,000 (USD$37,717) of the principal balance was repaid and CAD$7,917 (USD$5,867) in interest was accrued. On September 1, 2023, the Company entered into a promissory note with 2476393 Alberta Ltd for CAD$546,000 (USD$402,115). The promissory note bears an interest rate of 6% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024. As at December 31, 2023, no repayments had been made. During 2023, CAD$10,734 (USD$7,954) in interest was accrued. On November 23, 2023, the Company entered into a short-term non-interest-bearing promissory note with 1647020 Alberta Ltd. for CAD$12,000 (USD$8,766). During the year ended December 31, 2023, CAD$1,614 (USD $1,179) of the principal had been applied against amounts owed by the note holder. On November 15, 2021, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺350,000 (or approximately US$25,600). The loan matures on November 15, 2024 and bears interest at 19.44% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2022, the Company made $20,946 (2021 - $547) in principal payments and $3,624 (2021 - $424) in interest payments. As at December 31, 2022, the loan is fully repaid. On February 4, 2020, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺500,000 (or approximately US$83,500). The loan matured on February 4, 2022 and bears interest at 13.25% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2022, the Company made $2,888 (2021 - $19,542) in principal payments and $45 (2021 - $1,822) in interest payments. As at December 31, 2022, the loan has been fully repaid. On March 4, 2021, the Company received $500,000 from a third party (the “Lender”) repayable in one year from the date of disbursement. The amount is subject to interest at a rate of 15% per annum. The Company granted 1,000,000 common share purchase warrants to the lender in conjunction with the loan. The warrants expire in two years and have an exercise price of $0.16 per warrant. The fair value of the share purchase warrants has been accounted as a debt issuance cost and offset against the loan and will be recognized as financing cost over the term of the loan. The fair value of the warrants was determined to be $152,750 based on the Black-Scholes Option Pricing Model using the following assumptions: expected dividend yield - 0%, expected volatility - 229%, risk-free interest rate - 0.08% and an expected remaining life – 2.00 years. During the year ended December 31, 2022, the Company recognized $26,365 (2021– $126,386) as financing cost and accrued interest of $18,082 (2021 - $62,055). As at December 31, 2022, the loan has been fully repaid.